Early Warning System

Countries

Ukraine

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Oct 22, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Power One LLC

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 25.88 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 22.3
Converted using 2025-10-22 exchange rate.

Project Cost (USD)

$ 48.52 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 24, 2025

Disclosed by Bank Nov 13, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a EUR 22.3 loan in favour of Power One LLC (Ukraine) to construct private power generation capacities, consisting of gas-fired peakers with a total capacity of 36.8MW and BESS facilities with a total capacity of 31.5MW, in Ukraine.

The project objetive is to provide fast-response capacity and storage to stabilise the grid, support wartime energy security, enable renewable integration, and supply ancillary services (peaking, frequency response).

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Category B (ESP 2024). The development of a number of gas engine power plants in Ukraine, all of which will be below 50 MW thermal requires an environmental and social assessment to confirm compliance with National and EU legislation as well as the Bank Environmental and Social Requirements (ESR). The equipment will include standard gas engine modules that are designed to meet EU standards. All plants are below 300 MW thermal threshold for A category plants and the project is aligned with the Bank's the Energy Sector Strategy and agreed derogation for Ukraine with respect to fossil fuels.

The Bank's Environmental and Social Due Diligence (ESDD) has confirmed that the project will not have major adverse impacts on environmental and social receptors during construction and operations and will meet the EU Medium Sized Combustion Plant Directive (MCPD) emission standards for new gas engines as well as BAT (Best Available Technology) requirements under EU regulations for the sector as applicable to this size of plant. If any plant will be above 50 MW thermal (i.e. cumulative impact associated with a number of engines at one site) the Company will impact the BAT requirement as defined under the EU Industrial Emission Directive (IED) and add additional DeNOx abatement. Noise and air modelling undertaken by the Company did not show any risks to sensitive areas or reach of National or EU air quality standards, but post construction assessment will be undertaken to verify this, and as needed abatement mitigation measures added.

People Affected By This Project

People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actor Relationship

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Private Actors Description

Power One, a Limited Liability Company registered in Ukraine (the Company), is a newly created entity established and 100% owned by Dragon Capital, a leading investment firm and long-term client of the Bank.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Power One LLC (Ukraine)	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Hrinchenko Antonina
Hrinchenko.AI@power1.energy
+380933610170
36-D Saksaganskogo Street, 01033 Kyiv, Ukraine

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html