The U.S. International Development Finance Corporation (DFC) has approved a loan to Ukrainian energy holding DTEK to finance a large-scale energy storage project. The transaction was approved on September 16, 2026, as part of a new DFC investment package totaling more than $8 billion. According to DTEK and DFC, the agreement is one of the U.S. corporation’s largest debt transactions for Ukraine overall and the largest in the country’s energy sector since the start of Russia’s full-scale invasion in 2022.
The new investment project provides for the construction of a modern 200 MW / 400 MWh energy storage system in Ukraine. The planned capacity would be sufficient to supply 600,000 households for two hours. Advanced U.S.-technology energy storage systems are already operating successfully at six sites in central Ukraine. These facilities can respond to grid disruptions within milliseconds, helping regulate frequency, smooth fluctuations and significantly strengthen the country’s overall energy security.
To implement these projects, DTEK uses GridStack battery energy storage systems manufactured by U.S.-based Fluence. Construction of the previous phases took just six months, and the entire portfolio of facilities was successfully commissioned in September 2025.
Founded in 2005 by businessman Rinat Akhmetov through SCM Holdings and headed by Maksym Timchenko, DTEK Group is Ukraine’s largest private investor in the energy sector. The company is headquartered in Kyiv and employs approximately 55,000–60,000 people. The holding operates across coal and natural gas production, thermal and renewable power generation, electricity distribution and energy trading through businesses including DTEK Energy, DTEK Grids, DTEK Renewables, DTEK Oil&Gas and D.Trading. The group’s consolidated revenue reached UAH 245.9 billion in 2024 and amounted to UAH 135.6 billion in the first half of 2025.
On the U.S. side, the key partner is the U.S. International Development Finance Corporation (DFC), a U.S. government development finance institution established in 2019 through the consolidation of OPIC and USAID’s Development Credit Authority under the BUILD Act. The organization is headquartered in Washington, D.C. DFC mobilizes private capital for investment in emerging markets and supports projects that contribute to economic growth and U.S. foreign policy objectives. The corporation provides direct loans and loan guarantees, makes equity investments, and offers political and war-risk insurance.
Unlike commercial companies, DFC’s scale is generally measured by the size of its investment portfolio and commitments. By the end of FY2025, the organization’s active investment portfolio stood at approximately $43.4 billion, against a statutory maximum contingent liability limit of $205 billion set by the U.S. Congress, while new investment commitments in FY2024 approached $12 billion.
