IFC and Proparco Back Turkish Grid Modernization Through Ulug Enerji

⚡ AI Executive Summary

Actis has attracted minority investment from the International Finance Corporation and Proparco into Türkiye's Uluğ Enerji, a significant distribution utility, while maintaining majority control. The capital infusion will support the company's infrastructure modernization agenda spanning 2026 to 2030. This represents a notable commitment by multilateral development finance institutions to Turkish electricity distribution, signaling confidence in the country's energy infrastructure development and sustainability priorities. For utilities across emerging markets, such partnerships demonstrate how blended finance structures—combining private equity with development bank participation—can unlock capital for grid modernization. The transaction highlights growing appetite among international finance institutions for exposure to electricity distribution in developing economies, particularly where regulatory frameworks are stabilizing and demand growth remains robust. Grid upgrades in Türkiye are critical given the nation's rising electricity demand and the integration of renewable resources into its distribution networks, making utility-level investments a key lever in the broader energy transition.