Projects up to €35M and Risk-Sharing: Ukreximbank Outlines Financing Terms for Energy Storage Systems (BESS)

16.03.2026

During the Energy Club “BESS Insider” closed meeting, representatives of the banking sector shared practical experience in financing energy storage systems. Roman Lukianchuk, Head of Industry and Energy Division at JSC Ukreximbank, discussed the bank’s approach to lending for distributed generation and requirements for investors.

Ukreximbank finances both existing companies and Special Purpose Vehicles (SPVs), provided the investor’s equity share exceeds 30%. The bank prefers developers with proven experience and existing off-take contracts.

Key financing terms from Ukreximbank:

• Credit limit: Up to €35 million per group of companies.
• Equity contribution: Base level of 30% (may be reduced through risk-sharing instruments or if the project is built for self-consumption with recourse to the core business).
• Tenure and grace periods: Up to 8 years for BESS and hybrid systems (up to 10 years for wind power). Grace period — up to 12 months.
• Currency and rates: Base currency is Euro (indexed to EURIBOR/SOFR); financing in UAH (indexed to UIRD) is also available, including the state “Affordable Loans 5-7-9%” program.

What qualifies as collateral? The bank applies a combined approach to security. Collateral may include: property rights to the equipment, corporate rights (shares in the authorized capital), deposit coverage for up to 6 months, and property rights under off-take contracts.

Risk Assessment and International Guarantees According to Roman Lukianchuk, the bank targets a Debt Service Coverage Ratio (DSCR) of at least 1.3x. To mitigate war and market risks, Ukreximbank actively utilizes international instruments:

• Risk-sharing programs with the EBRD (covering up to 50% of the credit risk).
• Political and war risk insurance (e.g., via the U.S. International Development Finance Corporation – DFC).
• Cooperation with European Export Credit Agencies (ECAs), such as Germany’s Euler Hermes (Allianz Trade), for long equipment manufacturing cycles.

The expert also emphasized that Ukreximbank was among the first in Ukraine to successfully finance a commercial BESS project, which is currently operating stably and fulfilling obligations in the ancillary services market (FCR).