DTEK secures $72m for battery energy storage
DTEK has secured a $72m loan to construct what has been described as one of the largest battery energy storage (BESS) facilities in
Solar panels of a rooftop in Kyiv, Ukraine. March 2, 2023. (Julia Kochetova/Bloomberg via Getty Images) This audio is created with AI assistance Ukraine's largest private energy company DTEK secured a $72-million loan to build one of the largest battery energy storage complexes in Eastern Europe, the company said on June 3.
Ukraine's second most profitable bank, state-owned Oschadbank, state-owned Ukrgasbank, and PUMB will provide the funding for the project, which includes six energy storage installations across the country, totaling 200 megawatts to power 600,000 households.
The European Bank for Reconstruction and Development (EBRD) is supporting Ukraine 's energy security by lending €22.3 million to private Ukrainian energy company Power One for the financing of new peaking generation capacity and battery energy storage systems (BESS).
It marked the largest ever private investment in Ukraine's energy sector. Unlike other state-owned energy companies in Ukraine, DTEK hasn't been able to secure funding from the European Bank for Reconstruction and Development (EBRD).
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