DTEK receives $97.5 million U.S. loan for battery storage
The U.S. International Development Finance Corporation has approved a $97.5 million loan to DTEK, Ukraine's largest private energy company, for battery storage expansion. The loan is the DFC's largest commitment to Ukraine's energy sector since Russia's invasion in 2022. DTEK CEO Maxim Timchenko stated that the loan will enable the company to allocate additional funds towards battery storage and other projects.
Timchenko emphasized that the loan sends a strong message that the DFC is committed to supporting Ukraine and DTEK, and suggested that other private investors should follow this example. DFC CEO Ben Black revealed that U.S. President Donald Trump authorized the investment through the DFC. Black noted that the projects will bolster billions in American exports, secure critical infrastructure and resources in Ukraine, Jordan, Central Asia, and Africa, and enhance U.S. companies' competitiveness in global markets.
DTEK is owned by SCM Holdings, which is entirely owned by Rinat Akhmetov, Ukraine's wealthiest individual.
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