IFC and Proparco take minority stakes in Turkiye's Uludag Enerji power distributor

The International Finance Corporation (IFC), the World Bank Group's private-sector arm, and Proparco, a subsidiary of the French development agency, announced on Thursday, 23 July 2026 (1 Mordad 1405) that they have become minority shareholders in Uludag Enerji, a leading electricity distribution and retail company in northwestern Turkiye majority-owned by infrastructure investor Actis.

According to IFC, the investment will support Uludag Enerji's programme to upgrade and expand the electricity network serving the Uludag region, one of Turkiye's leading industrial centres, and to build resilience against risks such as heatwaves and wildfires. Strengthening reliable power supply for industries across Bursa, Balikesir, Canakkale and Yalova is intended to improve productivity and competitiveness in a region home to major manufacturing, agribusiness, logistics and export-oriented industries. Uludag Enerji serves about 6% of Turkiye's electricity customers, IFC said.

The investment aligns with the World Bank Group's support for Turkiye's energy transition and is intended to back grid modernisation and digitalisation, helping the network accommodate growing volumes of solar and wind power. Adrian Mucalov, head of Long Life Infrastructure at Actis, said the entry of IFC and Proparco shows the company has grown to the point where it can attract new global investors.