IFC and Proparco invest in Uluğ Enerji, Turkey
Type: Investment · Technology: Grid · Country: Turkey · Announced: 2026-07-23
International Finance Corporation and Proparco each commit minority equity stakes in Uluğ Enerji, the Turkish electricity distribution group, marking a new investment transaction. Uluğ Enerji serves over three million customers across the provinces of Bursa, Balıkesir, Çanakkale and Yalova under an exclusive distribution concession that runs until 2036. The equity infusion will fund the company’s 2026‑2030 regulated capital expenditure programme aimed at expanding the network, modernising the grid, and enhancing climate resilience. Actis retains a majority ownership, while the involvement of the World Bank Group’s IFC and France’s Proparco signals strong development finance endorsement for Turkey’s power infrastructure. The transaction awaits clearance from Turkey’s Energy Market Regulatory Authority and is expected to close in the coming months.
Counterparties
- Uluğ Enerji (Developer)
- Actis (Investor)
- World Bank (Parent Company)
- Agence Française de Développement (Parent Company)
- Société De Promotion et de Participation Pour la Coopération Economique (Investor)
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