en.Wedoany.com Report on Mar 25th, Polish solar developer and investment platform ELQ plans to invest 2.5 billion euros (approximately 2.9 billion US dollars) in Ukraine for the construction of solar photovoltaic and energy storage projects.

Marcin Sołtysiak, CEO of ELQ, stated that the company plans to develop 2.5 gigawatts of renewable energy capacity in Ukraine starting this year, primarily focusing on solar and energy storage. ELQ currently has nine projects in Ukraine in the development or construction phase, with an additional ten projects in the planning stage, totaling an estimated capacity of 1.1 gigawatts, most of which are solar power plants.

Sołtysiak pointed out: "Ukraine needs new energy sources as soon as possible. We are not waiting for the conflict to end because most of its power generation facilities have been damaged." ELQ expects partners from the United States and Saudi Arabia to participate in the investment, with the company itself providing 10% in equity investment, 60% from international institutions, and 30% from other private investors.

Ukraine's energy system faces challenges, with the World Bank recently estimating that its energy sector constitutes a significant portion of reconstruction costs. Investments in distributed renewable energy provide some stability to the grid, and Ukrainian companies are turning to small-scale solar for self-consumption and battery energy storage systems to enhance resilience.

Ukrainian parliament member Serhii Nahorniak has emphasized the strategic importance of energy storage systems for grid survival and European integration. ELQ's investments, starting this year, include not only solar, storage, and wind power projects but also considerations for gas investments and the potential development of small modular nuclear reactors.