DTEK Boosts Ukraine's Grid with 500 MW Battery Plan

• DTEK powers Ukraine's future with 500 MW battery storage, stabilizing the grid amid challenges. Innovative financing fuels this energy revolution.

DTEK, Ukraine's largest private energy company, plans to develop 500 MW of battery storage capacity to stabilize the national grid amid infrastructure attacks. The first phase includes a 200-MW project, awarded through an ancillary services auction, to provide frequency restoration reserves under a five-year contract with Ukrenergo, expected to be operational by the end of 2025. The second phase will add 300 MW of batteries.

To finance the rollout, DTEK Renewables Finance BV launched a consent solicitation for its EUR 325 million 8.5% senior secured PIK toggle notes due 2027. Proposed changes would allow raising up to EUR 300 million in secured debt for the projects. Bondholders are asked to approve adjustments for intercompany financing, operational flexibility, and support for the Tiligulska wind farm development.

How is DTEK financing its 500 MW battery storage project in Ukraine?

• DTEK Renewables Finance BV initiated a consent solicitation for EUR 325 million 8.5% senior secured PIK toggle notes due 2027.
• Proposed amendments aim to permit raising up to EUR 300 million in secured debt specifically for the battery storage projects.
• Bondholders are requested to approve changes that would facilitate intercompany financing.
• The adjustments seek to enhance operational flexibility for DTEK.
• The financing strategy also includes support for the development of the Tiligulska wind farm.
• The consent solicitation is part of a broader strategy to stabilize Ukraine's national grid through increased battery storage capacity.