Concorde Capital and the American fund DFC with partners have invested €32 million to create an energy company that will provide battery storage services.

The project was implemented after winning an auction from Ukrenergo for the construction of industrial batteries. So far, the project has been financed entirely by the company’s own capital, but the company plans to refinance two-thirds of it with Ukrainian banks.

According to the founder of Concorde Capital, the energy sector currently has great potential. In his opinion, the energy sector will be at a premium in Ukraine until 2028-2029, when the 4 GW deficit created by the destruction of power plants by Russian shelling will be closed.

Concorde Capital plans to raise €300 million for the second stage of the energy company’s development.