KNESS and Ukreximbank have signed a €30 million master credit agreement.
This is a structurally complex agreement that also involves the European Bank for Reconstruction and Development (EBRD) in the risk-sharing component under the “Energy Security Support Facility” (ESSF) program.
KNESS Group will direct the project-based bank financing it has secured toward the implementation of key energy projects for Ukraine’s energy system. This involves further scaling of the balancing capacity, particularly industrial energy storage systems, as well as distributed generation.
“The transition to a decentralized energy system model requires significant investment and technological maturity. For KNESS Group, this agreement is another logical step as part of our systematic commitment to transforming the power system toward greater reliability and modernity. We have already integrated over 200 MWh of ESS capacity into the power grid and are currently continuing to expand the balancing capacity and manage it effectively. We would like to thank our financial partners for their support along this way” – notes Sergii Shakalov, CEO of KNESS Group.
“This agreement demonstrates that strategic projects for Ukraine’s energy sector require not only financing but also a high-quality partnership capable of combining business initiative, banking expertise, and international support mechanisms. It is important for Ukreximbank to be a financial partner to companies investing in solutions for a more reliable and flexible energy system. We are grateful to KNESS Group for their trust and to the EBRD for the effective cooperation within the framework of risk-sharing instruments. We are convinced that such projects form the foundation of Ukraine’s energy resilience and its further recovery” – notes Andrii Moiseenko, Member of the Management Board of “Ukreximbank”.
We thank our partners for their trust and cooperation in implementing important projects to support the resilience of the country’s energy system.
