IFC, Proparco back Actis-owned Turkish power distributor Uluğ Enerji
What's the deal? The International Finance Corporation (IFC) and ProparcoDealroom has a profile for this one. Try Dealroom → are investing in Uluğ Energy Distribution and Retail Services Co, the Turkish power distributor owned by infrastructure investor ActisDealroom has a profile for this one. Try Dealroom →. The financing supports Uluğ Enerji's long-term growth in Türkiye.
Who's involved? Actis leads as majority owner, joined by the IFC and French development finance institution Proparco as new investors. Completion remains subject to regulatory approvals, including clearance from Türkiye's Energy Market Regulatory Authority (EMRA), expected in the coming months.
What's the endgame? The capital funds Uluğ Enerji's programme to modernise its network, strengthen resilience to climate risks, and improve service quality. Power distribution reaches millions of customers across the region.
Why it matters: The deal marks Proparco's first equity investment in Türkiye's electricity distribution sector. "This investment reflects Proparco's commitment to supporting resilient and sustainable infrastructure that underpins economic development and the energy transition," said Steven Gardon, regional head for Proparco.
By the numbers: Actis raised US$1.7 billion in May 2025 for its second long life infrastructure fund. That strategy targets operating infrastructure in growth markets, including renewable energy, transmission and distribution networks, toll roads, and digital infrastructure.
What they're saying: "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. "IFC is mobilizing private capital, supporting more and better jobs and signaling to the market the importance of private sector-led delivery models in the power sector."
The signal: Development finance institutions are increasingly backing private-led energy infrastructure in emerging markets, positioning grid modernisation as a lever for both economic growth and the energy transition.
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