DTEK to Invest €140M in Energy Storage Systems to Boost Ukraine
Sep 12, 2024 · DTEK is investing €140 million in energy storage systems with a capacity of 200 MW to strengthen Ukraine''s energy security. These systems, to be operational by September
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Did Ukraine get a loan to build a battery energy storage complex?
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.
Who is funding the energy storage project in Ukraine?
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.
Will Kyiv's energy storage system reach 27% by 2030?
Kyiv wants to up this to 27% by 2030. Other similar energy storage systems in Eastern Europe include Lithuanian electricity transmission system operator Litgrid's 200-MW units launched in 2023 and a 55-MW battery energy storage system in Razlog in southwestern Bulgaria that went online in 2024.
Is DTEK a state-owned energy company in Ukraine?
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). Cooperation with Ukrainian banks strengthens Ukraine's energy security and potential, the company said.
Does DTEK invest in Ukraine?
DTEK has continued to invest in energy projects in Ukraine, most notably committing 450 million euros ($468 million) to expand the Tyligulska Wind Power Plant near the Black Sea coast in cooperation with Denmark's state-owned Export and Investment Fund. It marked the largest ever private investment in Ukraine's energy sector.
What are battery energy storage facilities?
Battery energy storage facilities are like a large power bank connected to energy grids, and are crucial for storing energy created by renewables like solar and wind for later use. The share of renewable energy in Ukraine's grid was about 10% before Russia's full-scale invasion. Kyiv wants to up this to 27% by 2030.