IFC and Proparco invest in Türkiye grid upgrades at Ulug Enerji

Uluğ Enerji serves more than three million electricity customers across Bursa, Balıkesir, Çanakkale and Yalova. The transaction is described as the first equity participation by development finance institutions in a Turkish electricity distribution company. For the solar sector, stronger distribution grids are essential because renewable growth increasingly depends on network capacity, digitalisation and climate-resilient grid investment rather than generation assets alone.