DTEK has secured a $72m loan to construct what has been described as one of the largest battery energy storage (BESS) facilities in Eastern Europe.
The funding will be provided by the state-owned Oschadbank, Ukrgasbank and PUMB.
Before Russia’s full-scale invasion in February 2022, renewable energy accounted for 10% of Ukraine’s energy grid. Kyiv aims to increase this share to 27% by 2030, as reported by The Kyiv Independent.
The loan, which represents DTEK’s largest domestic financing agreement for new energy infrastructure, will help cover a portion of the construction expenses for five installations in Ukraine. These installations will have a total capacity of 180MW.
The agreement is set to last until 25 September 2030.
DTEK, owned by Ukraine’s wealthiest individual, Rinat Akhmetov, will finance the remaining costs.
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By GlobalDataPUMB is primarily owned by Akhmetov through his System Capital Management (SCM) Holdings.
DTEK CEO Maksym Timchenko 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,”.
In 2024, DTEK experienced a staggering 90% reduction in its energy generation capacity as a result of Russian attacks on energy infrastructure.
Ukraine lost 9 gigawatts of its energy capacity – approximately half the country’s peak winter consumption. This situation has sparked discussions about the necessity of decentralising energy sources.
The company views battery energy storage facilities as a means to achieve decentralisation and strengthen ties with the EU.
In March 2025, DTEK revealed its plans to construct Poland’s inaugural large-scale electricity storage facility – part of its broader strategy to create a pan-European energy system linked to Ukraine.
PUMB board chairman Serhiy Chernenko stated: “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.”
