Concorde Capital will compete with DTEK and is building a $1B energy company.

Investment company Concorde Capital is working build an energy company worth $1B, company founder Ihor Mazepa said. Concorde Capital and its partners, including the American DFC, have invested €32M in creating an energy company that will provide energy storage services using battery storage. The project was implemented after winning an Ukrenergo auction to construct industrial batteries.

“For now, we are financing 100% with our own capital, and then we want to refinance two-thirds through Ukrainian banks,” Mazepa notes, adding that he has decided to concentrate on large industrial projects.

The investor believes the energy sector will be at a premium in Ukraine until 2028-2029. This will continue at least until the 4 GW deficit created by the destruction of power plants by Russian shelling is erased. For the energy company’s second stage of development, Concorde Capital plans to attract €300M. For the energy project, Concorde Capital selects people who “play an important role in energy”. We will have one of the best expertise in the energy sector.

“We will compete with DTEK and other players,” says Mazepa.