EBRD grants €22.3 million to Power One for gas engine plants

• 22 days ago (2025-11-17)
• David Flin

Europe 1151 Gas engine plant 82

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The European Bank for Reconstruction and Development (EBRD) is providing €22.3 million in financing to Power One, a private Ukrainian energy company, to help strengthen Ukraine’s energy security.

The EBRD’s financing is supported by an additional €3 million investment grant from Norway.

The funding will support development of new peaking generation capacity and battery energy storage systems (BESS). Power One will use the loan to build and operate gas engine plants with a total capacity of 36.8 MW and BESS with a combined capacity of 31.5 MW across several locations in western Ukraine.

In the long term, these new energy assets will help support the integration of more renewable energy into Ukraine’s electricity mix.