Large businesses in Ukraine have increased their investments in energy storage facilities.

Currently, 75% of the lending for large business projects that are underway at Ukrainian banks involves energy storage facilities (ESF), indicating strong investor demand for this technology amid declining interest in gas generation, said Oschadbank top manager Yevhen Myachyn. An additional 20% of projects involve wind and solar power plants, while 10% are gas-piston plants.

In comparison, last year, 70% of big business projects during the same period focused on gas generation. “Back then, quick decisions were needed, but we see that everything is changing, and investors are responding quite dynamically to market needs,” the banker explained.

Myachyn believes that a key factor in the growth of the ESF sector is banks’ expertise and willingness to take risks in financing these projects. Investors can also rely on consortium financing, among other options.

He also noted that since the start of the year, the volume of energy loans for corporate clients has risen to €93M, with about 45% from ESFs, 43% from WPPs, and 12% from a combination of ESFs and WPPs.