DTEK, a leading Ukrainian energy company, has secured a $72 million loan to build one of Eastern Europe’s largest battery energy storage systems (BESS). The financing, provided by state-owned Oschadbank, Ukrgasbank, and PUMB, marks DTEK’s largest domestic funding deal for new energy infrastructure. The loan, set to mature on September 25, 2030, will partially fund the construction of five BESS installations across Ukraine, with a combined capacity of 180MW. DTEK, owned by Rinat Akhmetov through System Capital Management Holdings, which also holds a majority stake in PUMB, will cover the remaining project costs.

The loan agreement covers five energy storage installations with a total capacity of 180MW.

The initiative aligns with Ukraine’s goal to increase renewable energy’s share in its grid from 10% before February 2022 to 27% by 2030, as reported by The Kyiv Independent. The BESS facilities aim to enhance energy reliability and support decentralization, addressing challenges faced by Ukraine’s energy sector, which saw a 90% reduction in DTEK’s generation capacity in 2024 due to infrastructure damage. This loss, equivalent to 9 gigawatts, represents about half of Ukraine’s peak winter energy consumption, highlighting the need for diversified energy sources.

Maksym Timchenko, CEO of DTEK, stated: “DTEK’s investments in new energy capacity are not only a response to current challenges but also a contribution to the long-term strategy of ensuring Ukraine’s energy resilience and independence. Our goal is not just to restore but to create modern and reliable energy that will become the foundation for the country’s economic development.”

The BESS project supports Ukraine’s broader strategy to strengthen energy ties with the European Union. In March 2025, DTEK announced plans to build Poland’s first large-scale electricity storage facility, advancing its vision for a connected pan-European energy system. The Ukrainian BESS installations will promote energy decentralization, improving grid stability and supporting economic growth.

Serhiy Chernenko, PUMB board chairman, said: “We recognise our responsibility as a bank that consistently supports the country, and we are doing everything we can to financially contribute to the development of new energy capacities. This is not just about investing in infrastructure — it’s about strengthening the strategic energy independence and security of our state.”

This project reflects DTEK’s commitment to modernizing Ukraine’s energy infrastructure, enhancing resilience, and fostering sustainable development through innovative storage solutions.