On 16 September, the US International Finance Corporation approved a loan for a DTEK project involving energy storage systems with a capacity of 200 MW / 400 MWh. The US Embassy emphasised that the combination of American and Ukrainian innovations strengthens energy security; the batteries are intended to help the system respond to disruptions during Russian attacks.
Briefly about the main points
- DFC has approved a loan for DTEK’s storage complex.
- The maximum funding limit is $185 million.
- Six battery facilities are already operational at the power stations.
- The funds will be used to repay the interim financing for the project.
- DTEK is also collaborating with GE Vernova on gas-fired power generation.
The US Embassy discussed the resilience of the power system with DTEK
Chargé d’Affaires ad interim of the United States in Ukraine Paul Houston met with the Advisory Council DTEK. The parties discussed the development of Ukraine’s energy sector, its resilience to Russian attacks, and further cooperation between Kyiv and Washington.
Houston highlighted the progress made in restoring and strengthening the energy infrastructure. He said that combining American technology with Ukrainian innovation helps to enhance the energy security of both countries.
The funding will be used to refinance the existing battery complex
According to the DFC’s information summary, the maximum amount of debt financing is up to $185 million. It is intended to repay the interim financing raised for the construction and commissioning of facilities, rather than for new construction.
Battery systems based on technology from the American company Fluence are in operation at six sites in central Ukraine. They respond to outages in a matter of milliseconds; DFC links the complex’s operation to power system balancing, frequency regulation and the prevention of frequency imbalances. The corporation has classified the project as «highly impactful» according to its methodology.
DTEK is preparing a gas-fired power station in Burshtyn and a wind project
In June, DTEK and the US-based GE Vernova signed a memorandum regarding the development of a gas-fired power station with a capacity of up to 650 MW at the Burshtyn Thermal Power Station site. The project involves state-of-the-art gas turbines, an investment of approximately €900 million and a target commercial launch by 2032.
The company is also planning a 650 MW wind power project in the Poltava region. According to DTEK’s plans, the power station will be able to supply electricity to up to one million households.
DTEK’s Advisory Board is chaired by former US Ambassador Geoffrey Pyatt
In April Jeffrey Payatt has been appointed Chair of the DTEK Advisory Board. Its remit covers energy security and resilience, the recovery of Ukraine’s energy sector, integration into the European energy market and the development of international partnerships.
The refinancing approved by the DFC and the proposed projects for energy storage, gas and wind generation combine the renewal of the energy sector with the development of flexible capacity. Batteries can quickly stabilise the system during short-term disturbances, whilst the future gas-fired power station is designed for controlled electricity generation.
