Türkiye, Istanbul: The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is investing in Uludağ Enerji, a major electricity distribution and retail company in northwestern Türkiye.
IFC will become a minority shareholder in Uludağ Enerji alongside Proparco. The company is majority-owned by Actis and serves around 6 % of Türkiye’s electricity customers.
The investment will support Uludağ Enerji’s programme to upgrade and expand the electricity network serving the Uludağ region, one of Türkiye’s leading industrial centres. The area includes Bursa, Balıkesir, Çanakkale and Yalova.
According to IFC, the grid upgrades will improve power reliability for households and businesses, while strengthening resilience against risks such as heatwaves and wildfires. The investment is also expected to support industries including manufacturing, agribusiness, logistics and export-oriented sectors, where reliable electricity supply is critical for productivity and competitiveness.
“Power distribution is the backbone of any electricity supply system,” said Sumeet Thakur, IFC’s Regional Industry Director for Infrastructure and Natural Resources in the Middle East and Central Asia.
The project will also support grid digitalisation and help Türkiye’s network accommodate growing volumes of solar and wind power, contributing to the country’s broader renewable energy ambitions.
Source: IFC
