Ukrainian companies pay for backup power twice: first for the equipment, then for the fuel that keeps it running. Diesel gensets, batteries, cogeneration units and rooftop solar all drain working capital that most micro, small and medium enterprises simply do not hold.
So the most common question sounds like this: where do I get a grant for solar panels? As of July 2026, the mechanics in Ukraine work differently. First a partner bank lends the money. After that, once the equipment has been installed and verified, a grant reimburses 10 to 30 per cent of the investment. Below are the programmes with confirmed terms, the amounts, and the numbers a donor expects to see in your financial case.
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Who funds business energy projects now
Start with who dropped off the list. The US State Department terminated the USAID Energy Security Project in February 2025, and the agency itself closed later that year. So every roundup that still promises 40 per cent of your equipment cost from USAID is roughly eighteen months out of date.
Nefco also works differently from how many articles describe it. Its Green Recovery Programme for Ukraine finances municipalities: hospitals, schools, kindergartens, district heating and water utilities. In the private sector, Nefco co-finances larger projects together with the EBRD, FMO, IFU and Swedfund, which sits far above the scale of a single SME application.
Two channels therefore remain for Ukrainian SMEs in 2026. First, the EBRD deploys EU money through the Ukraine Investment Framework: a loan from a partner bank plus a grant that covers part of the investment. Second, the state runs its own subsidised rates through the same banking network: zero per cent for gensets, the standard Affordable Loans 5-7-9% terms for cogeneration, and 10 per cent for large captive generation.
Programmes open as of July 2026
1. EBRD Energy Security Support Facility (ESSF)
Volume and mechanics
EUR 2 billion, with 8 partner financial institutions engaged. A partner bank issues the loan. After that, the EBRD and its donors pay the grant once a consultant has verified the installed equipment.
Who can apply
Privately owned companies registered in Ukraine, at least 51 per cent private, plus individual entrepreneurs. Separate rules cover homeowner associations, households, municipalities and state-owned enterprises.
What it finances
Small-scale energy supply up to 50 MW of installed electricity capacity per unit, so gas-fired power plants, gas-fired heat generation, combined heat and power plants and heat-only boilers all qualify. Renewables follow: solar photovoltaic, wind, small hydro and biogas. The facility also covers energy storage and building efficiency measures such as thermal insulation, windows, doors, solar water heaters, heat pumps, solar PV and storage systems.
Grant
SMEs qualify through the EU-EBRD SME Competitiveness and Inclusion Programme (SMECI). Specifically, the facility prioritises borrowers who lost assets to the war, war veterans and their family members, internally displaced persons, people with disabilities, and companies from war-affected territories.
Partner banks
PrivatBank, Ukrgasbank, Oschadbank, Raiffeisen Bank, UKRSIBBANK, ProCredit Bank, Ukreximbank and Credit Agricole Bank.
Deadline
Applications accepted on an ongoing basis through a partner bank. Facility consultant: info@essf-ukraine.com, +38 096 768 1353.
2. EU4Business-EBRD Credit Line: grants of up to 30 per cent
How it works
A joint EU and EBRD line combines loan or leasing finance, free technical assistance and a cash investment incentive. Notably, this is the route through which SMEs collect their ESSF grants.
Who can apply
Companies that are more than 50 per cent privately owned and privately run, registered in Ukraine and operating mainly in Ukraine. The EU definition of an SME applies: fewer than 250 employees and turnover below EUR 50 million, or a balance sheet below EUR 43 million, counting linked and partner companies. Farms qualify if they cultivate no more than 2,000 hectares. Sole proprietors also fit.
Three routes, three grant rates
Pre-approved technologies: equipment upgrades up to EUR 300,000 based on the GTS or LET catalogues. The base incentive reaches 10 per cent, and a further 5 to 15 per cent applies to veterans, companies employing or serving veterans, and war-affected businesses.
Simplified approach: SPS and food safety investments up to EUR 300,000. Conventional technologies earn up to 15 per cent, green technologies up to 20 per cent, and priority groups add 5 to 15 per cent on top. The ceiling stands at 30 per cent.
Complex approach: large projects up to EUR 5 million. Conventional technologies earn up to 15 per cent, green technologies up to 20 per cent, and priority groups add 5 to 15 per cent. The combined ceiling is again 30 per cent, while the grant itself caps at EUR 300,000.
Deadline
Applications accepted on an ongoing basis through a partner bank.
3. Enerhokredyt: 0 per cent on generation units
Terms
Up to UAH 10 million, up to 3 years, 0 per cent per annum. The state covers the gap between the market rate and zero through the Business Development Fund. The programme launched on 2 February 2026 inside the Affordable Loans 5-7-9% scheme.
What it buys
Generation units only: gas turbine, gas piston and biogas installations, plus diesel, petrol and gas gensets. Solar panels and heat pumps fall outside this programme, so for those technologies use the EBRD routes above.
Who can apply
Sole traders and legal entities in the micro, small and medium segment that meet the 5-7-9% criteria: Ukrainian residency, registration outside occupied territories, and ultimate beneficial owners who are Ukrainian residents. Sole traders earning up to UAH 50 million skip collateral and provide a guarantor instead. Operating businesses document more than 12 months of activity, while startups submit a reasoned business plan.
Speed and uptake
43 partner banks take applications, and decisions arrive in roughly 5 to 10 working days because these files receive priority review. As of 8 June 2026, banks had issued more than 400 loans worth over UAH 620 million.
Deadline
Applications accepted on an ongoing basis through a partner bank.
4. Cogeneration under 5-7-9%: up to UAH 250 million
Terms
Up to UAH 250 million for businesses and homeowner associations to build and install gas turbine, gas piston, biogas and cogeneration units. This track sits inside the same state lending scheme, yet it runs wider than the 0 per cent Enerhokredyt.
Reality check
As of 8 June 2026, banks had issued 155 loans worth more than UAH 2.6 billion under this track. The average ticket therefore lands near UAH 17 million, which points to manufacturing sites rather than coffee shops.
Deadline
Applications accepted on an ongoing basis through banks in the 5-7-9% scheme.
5. Captive generation at 10 per cent: EUR 1 million to 25 million
Terms
Loans from EUR 1 million to EUR 25 million in hryvnia equivalent at 10 per cent per annum, for up to 5 years, with repayment deferred by up to 12 months during construction and commissioning. For projects in front-line areas the minimum drops to EUR 500,000.
Who can apply
Medium and large companies. The programme opened on 1 June 2026 under Cabinet of Ministers resolution No. 594 of 29 April 2026, as part of Ukraine’s internal resilience plan.
What it finances
New generation capacity, energy storage systems, cogeneration units, biogas and biomass projects. In practice, regions with a generation deficit take priority, especially front-line oblasts.
Procedure
First you apply to a partner bank. After that the National Development Institution assesses the project, the Ministry of Economy signs off, and the bank makes the credit decision. 14 partner banks take part.
Deadline
Applications accepted on an ongoing basis through a partner bank.
Capex versus energy audits: what the money covers
Grant money in these programmes attaches to equipment. The rate applies to the investment financed by the loan, and payment follows the consultant’s confirmation that the installation succeeded. So the sequence runs: buy, install, verify, then collect.
The technology catalogues decide a lot
For projects worth up to EUR 300,000 the EBRD maintains two online catalogues of pre-approved technologies. The Green Technology Selector covers buildings, renewables and storage. The List of Eligible Technologies includes small-scale gas-fired CHP units and equipment that satisfies both the ESSF and SMECI rules.
If your model already sits in a catalogue, the procedure stays short. If it does not, the facility consultant team assesses the technology separately and, after a positive assessment, issues a report and adds the model to the catalogue. That takes real weeks, so build it into the timeline before you talk to a bank.
Audits and advice arrive as technical assistance
Ukraine currently has no open standalone grant that pays for a business energy audit. Instead of cash for a consultant, the programmes supply free technical assistance: both the ESSF and the EU4Business-EBRD Credit Line include expert support while you structure the project. The earlier BDF and GIZ scheme worth EUR 10,000 to 20,000, which did cover audits, has used up its quota. The BDF programme financed by KfW is marked as completed.
| Parameter | Details |
|---|---|
| Donors | EBRD, EU via the Ukraine Investment Framework, Government of Ukraine |
| Form of support | Bank loan plus a grant covering 10-30% of the investment; separately, state rates of 0% and 10% |
| Who applies | Sole traders and companies registered in Ukraine, at least 51% privately owned |
| Maximum grant | 30% of the investment, capped at EUR 300,000 |
| Equipment | Solar PV, wind, small hydro, biogas, storage, heat pumps, insulation, generation up to 50 MW |
| Technical assistance | Free of charge, from the ESSF facility consultant |
| Deadline | Applications accepted on an ongoing basis |
| Official page | ESSF on the EBRD website |
How to prove payback in your application
The bank studies your ability to service the loan, while the donor’s consultant studies the energy effect. Therefore one document has to answer both questions at once.
Baseline consumption year
Take 12 months of actual electricity and gas bills. Then add a separate line for genset fuel spend and for downtime hours over the past year. Since primary documents back these figures, they carry the whole calculation.
Simple payback
The formula stays plain: project cost divided by annual savings. After that, run the same maths with the grant applied. A 20 per cent incentive cuts your net investment by a fifth, so the payback period shortens in proportion. Show both scenarios, with and without the grant.
A real ESSF project gives you a benchmark. Kherson Energo Group built a 7.2 MW solar plant to supply Zaporizhzhia and the surrounding region. The project cost UAH 173.5 million in total, of which Ukrgasbank lent UAH 122 million under the ESSF risk-sharing mechanism. Payback runs under four years, primary energy savings reach about 30 million kWh a year, and CO2 emissions fall by more than 12,000 tonnes a year.
Energy effect in physical units
The consultant wants kilowatt-hours and tonnes of CO2 rather than percentages. So calculate expected primary energy savings per year, emission reductions per year, and, for generation projects, forecast output. A second ESSF case shows the pattern: Integral Storage installed two storage facilities of 2 MW and 4 MWh worth UAH 73.5 million, with a UAH 51.5 million sub-loan from Ukrgasbank. The project let the company win an Ukrenergo auction and sign a five-year ancillary services contract.
The cost of downtime
For manufacturers, tariff savings form the smaller half of the effect. Calculate what one hour of a stopped line costs you: lost output, spoiled raw material, staff wages, penalties for a missed delivery. Then multiply by the actual outage hours you logged last year. In fact this number often exceeds the kilowatt-hour savings several times over, and it makes the project legible to a credit committee.
Document checklist before you apply
Each bank sets its own exact list, because the bank makes the credit decision. The core pack stays the same, so gather it before the first meeting.
1. Legal pack. Registration papers, ownership structure down to the ultimate beneficial owners, and proof that the company is at least 51 per cent private with no links to the aggressor state. Add a certificate showing no arrears to the budget or the social funds.
2. Financial pack. Recent statements, trial balances and credit history. Operating companies document more than 12 months of trading, while newly created firms submit a business plan.
3. Energy pack. Twelve months of bills, a consumption calculation, an equipment specification with models and capacity, a supplier quotation, and a check of those models against the GTS or LET catalogues.
4. Project pack. A description of the investment project, the budget, the installation schedule, the payback calculation in two scenarios, and the energy and CO2 savings maths.
5. Priority group status. If you claim the higher incentive, prepare the evidence: a veteran’s certificate, an IDP certificate, documents on destroyed or damaged assets, or confirmation that you operate in a war-affected territory.
The ESSF terms, the partner bank list and the facility consultant contacts all sit on the official page: ESSF on the EBRD website. Grant rates for the three routes appear on the EU4Business-EBRD Credit Line site. Enerhokredyt terms sit on energycredit.bdf.gov.ua.
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