IFC and Proparco investment to support grid upgrades, digitalization and climate resilience in northwestern Turkiye.
The International Finance Corporation (IFC), the World Bank Group’s private-sector arm, is investing in Uludag Enerji, a major electricity distribution and retail company serving northwestern Turkiye, the group said Wednesday.
The investment will help modernize electricity infrastructure in the region, improving grid reliability for households and businesses, the group said in a statement.
Uludag Enerji is majority-owned by Actis, a global investor in sustainable infrastructure.
IFC is investing in the company alongside French development finance institution Proparco.
The investment will help Uludag Enerji modernize and expand the electricity network in the Uludag region, one of Turkiye’s main industrial centers, while strengthening its resilience to risks including heatwaves and wildfires, the statement added.
A more reliable power supply is expected to support productivity and competitiveness across Bursa, Bal?kesir, Canakkale and Yalova, which are home to major manufacturing, agribusiness, logistics and export-oriented industries.
Adrian Mucalov, Head of Long Life Infrastructure at Actis said: “The entry of IFC and Proparco into Uludag Enerji reflects what we set out to achieve with this investment.”
“We acquired a high-quality regulated business, institutionalized it, and grew it to the point where the company can attract new global investors,” Mucalov added. “The commitment of leading development finance institutions is a strong endorsement of the quality of the platform, the strength of our operational partnership with the Uludag Enerji team, and the opportunity we see in Turkiye’s electricity infrastructure.”
Uludag Enerji serves about 6% of Turkiye’s electricity customers.World Bank Group invests in Turkiye’s power grid to bolster energy security, jobs
- IFC and Proparco investment will support grid upgrades, digitalization and climate resilience in northwestern Turkiye
The International Finance Corporation (IFC), the World Bank Group’s private-sector arm, is investing in Uludag Enerji, a major electricity distribution and retail company serving northwestern Turkiye, the group said Wednesday.
The investment will help modernize electricity infrastructure in the region, improving grid reliability for households and businesses, the group said in a statement.
Uludag Enerji is majority-owned by Actis, a global investor in sustainable infrastructure.
IFC is investing in the company alongside French development finance institution Proparco. XXXFinancial details of the transaction were not disclosed.
The investment will help Uludag Enerji modernize and expand the electricity network in the Uludag region, one of Turkiye’s main industrial centers, while strengthening its resilience to risks including heatwaves and wildfires, the statement added.
A more reliable power supply is expected to support productivity and competitiveness across Bursa, Bal?kesir, Canakkale and Yalova, which are home to major manufacturing, agribusiness, logistics and export-oriented industries.
Adrian Mucalov, Head of Long Life Infrastructure at Actis said: “The entry of IFC and Proparco into Uludag Enerji reflects what we set out to achieve with this investment.”
“We acquired a high-quality regulated business, institutionalized it, and grew it to the point where the company can attract new global investors,” Mucalov added. “The commitment of leading development finance institutions is a strong endorsement of the quality of the platform, the strength of our operational partnership with the Uludag Enerji team, and the opportunity we see in Turkiye’s electricity infrastructure.”
Uludag Enerji serves about 6% of Turkiye’s electricity customers.
(Anadolu Agency, July 23, 2026)
