| Project Detail |
To support the upgrade, modernization, and expansion of the medium- and low-voltage electricity distribution network of the Uludag region.
DESCRIPTION
The Project involves the provision of a senior secured loan of up to USD 28 million in Turkish lira (TRY) to support the regulatory capex program of Uludag Elektrik Dagitim A.S. (UEDAS), the incumbent distribution network operator of the Uludag region. The capex program is approved by the Energy Market Regulatory Authority (EMRA) under the Fourth Tariff Implementation Period 2021-2025 (TIP-4).
UEDAS is one of the 21 electricity distribution companies of Türkiye created in 2010 following the privatization of the sector. Its network supplies electricity to over 3.5 million users within a 35,501 km2 service area that encompasses four provinces bordering the Marmara Sea: Bursa, Balikesir, Canakkale and Yalova. In 2022, the region had a population of 5.1 million and consumed 19.6TWh, representing approximately 6% of Turkeys electricity demand. The UEDAS network has approx. 53,600km of distribution lines and 11,177 transformers.
Since April 2022, the Borrower and its affiliates, Ulug Elektrik Dagitim ve Perakende Hizmetleri Satis A.S. (Ulug) and Uludag Elektrik Perakende Satis A.S. (UEPSAS) are wholly owned subsidiaries of Actis Long Life Infrastructure Fund (Actis).
The Project will contribute to the expansion, rehabilitation, and efficiency of the Uludag electricity distribution network through multiple investments, including the procurement, installation, and operation of medium- and low-voltage overhead lines, underground lines, transmission connection lines and transformers. Through these investments, the Project will help reduce power outages, control theft and losses, enhance the operation’s environmental and safety standards, and improve the network’s efficiency and reliability. The Project will expand the digitalization of the network through technology investments and improve the average age of equipment. |
