Aequo Advises EBRD on €22.3 Million Financing for Decentralised Energy Generation in Ukraine

Aequo has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with its €22.3 million loan to Power One, a Dragon Capital energy initiative, supporting the development of new decentralised peaking generation and battery energy storage capacity across western Ukraine.

This landmark transaction represents the first large‑scale Ukrainian project to integrate fast‑response gas‑piston generation (36.8 MW) with advanced battery energy storage systems (31.5 MW), enabling flexible, distributed, and resilient power supply amid wartime grid instability. It comes at a critical moment, as Ukraine has lost approximately 9,000 MW of generation capacity and 90% of its flexible generation due to ongoing attacks on energy infrastructure, making rapid‑start decentralised assets essential for maintaining electricity supply during peak demand and emergencies.

“This project is a milestone for Ukraine’s energy resilience, as it introduces a modern, decentralised architecture capable of stabilising the grid even under extreme external stress. We are proud to have supported EBRD in a transaction that enhances immediate energy security and lays the foundation for long‑term integration of flexible and renewable power sources”, said Yulia Kyrpa, Executive Partner at Aequo.

The Aequo project team included Counsel Oleg Krainsky, Senior Associate Yevheniia Chernetsova and Associates Konstantyn Dovhan, Sofiia Voloshanivska, Maria Melnyk and Daryna Zhuravel, and was led by Yulia Kyrpa, Executive Partner.