World Bank Group invests in Türkiye’s power grid

ISTANBUL  

The International Finance Corporation (IFC), the World Bank Group’s private-sector arm, is investing in Uludağ Enerji, a major electricity distribution and retail company serving northwestern Türkiye.

The investment will help modernize electricity infrastructure in the region, improving grid reliability for households and businesses, the group said in a statement.

Uludağ 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 Uludağ Enerji modernize and expand the electricity network in the Uludağ region, one of Türkiye’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, Balıkesir, Çanakkale and Yalova, which are home to major manufacturing, agribusiness, logistics and export-oriented industries.

Uludağ Enerji serves about 6 percent of Türkiye’s electricity customers.