DTEK received a $72 million loan to help build a battery energy storage (BESS) facility, one of the biggest in Eastern Europe. The state-owned Oschadbank, Ukrgasbank, and PUMB will give out the funding. Before the attack began in February 2022, about 10% of Ukraine’s energy came from renewable sources. The Kyiv Independent states that Kyiv aims to raise the share of renewable energy to 27% by 2030.
The loan, which is the largest of its kind for DTEK within Ukraine, will support the construction costs for five power plants in the country. The projects will give a total power output of 180 MW.
The agreement extends through 25 September 2030.
DTEK, which is owned by Rinat Akhmetov, the richest person in Ukraine, plans to cover the rest.
Akhmetov owns the majority of PUMB through his System Capital Management (SCM) Holdings.
“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.”
– Maksym Timchenko,DTEK CEO.
DTEK saw a huge drop in energy output by 90%, caused by Russian damage to energy infrastructure in 2024.
Ukraine has lost the capacity to generate 9 gigawatts of electricity, which amounts to half its total need in winter. The situation has led to people arguing for more use of decentralized forms of energy.
In the company’s opinion, battery energy storage helps achieve decentralization and reinforces its ties with the EU.
March 2025 saw DTEK making public its plans to build Europe’s first large-scale electricity storage facility in Poland as part of its aim to set up a Europe-wide energy network linked to Ukraine.
“We recognize 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.”
– Serhiyhiy Chernenko, PUMB board chairman.
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