US development agency approves €85 million loan to expand Ukraine's battery storage
The U.S. International Development Finance Corporation has approved an €85 million ($97.5 million) loan to Ukraine’s largest private energy company, DTEK, to expand its battery storage capacity.
It is the DFC’s largest loan to Ukraine’s energy sector since Russia launched its full-scale invasion in 2022, DTEK and the U.S. agency said.
DTEK CEO Maxim Timchenko said the financing would allow the company to invest more in battery storage and other energy projects.
Ukraine has increasingly relied on energy storage to stabilize its power grid as Russia continues missile and drone attacks on the country’s energy infrastructure.
Last year, DTEK launched six battery storage systems in Kyiv and the Dnipropetrovsk region in partnership with U.S.-based energy storage company Fluence.
Together, the facilities can store 400 megawatt-hours of electricity - enough to power around 600,000 Ukrainian households for two hours.
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