Greek lender Eurobank and the Ktistor Group have announced a partnership to support investments in battery energy storage systems (BESS) projects of 1 to 10 MW connected to the distribution network operated by the Hellenic Electricity Distribution Network Operator (DEDDIE).

The initiative concerns projects expected to participate in the free energy market, at a time when conditions for the development of this category of investments are being shaped.

Within this framework, the collaboration between Eurobank and the Ktistor Group aims to provide solutions covering different needs across the various stages of project implementation.

The projects are expected to play an important role in the transition towards a more flexible and resilient energy system.

As renewable energy use increases, the need for energy storage is becoming increasingly important in order to support the balance between supply and demand and the efficient utilisation of generated power.

In this context, the two sides are contributing, each from their own position, to supporting the specific needs of investors.

The Ktistor Group provides services related to the implementation and operation of projects, including construction, maintenance, operational management, technological support through EMS and SCADA systems, as well as market representation in the energy sector.

Eurobank provides financing solutions tailored to the characteristics of the projects, within the framework of the bank’s established procedures, approvals and assessment criteria.

The initiative is expected to support the development of small and medium-scale energy storage projects that can enhance the penetration of renewable energy sources and strengthen the stability of the energy system, in line with energy transition objectives.

“With this initiative we are strengthening support for investments in smaller-scale energy storage projects, providing investors with access to financing and, in cooperation with the Ktistor Group, specialised expertise for the design and implementation of projects,” said Deputy Chief Executive Officer and Head of Retail and Digital Banking at Eurobank, Iakovos Giannaklis.

“In this way we aim to contribute to accelerating investments aligned with the goals of the energy transition and ESG footprint,” he added.

On his part, Ktistor Group chief executive officer Giorgos Tsikalakis said that “the cooperation with Eurobank is part of our strategy to develop integrated energy solutions that respond to the modern needs of the market”.

“Energy storage projects are a key pillar for the transition to a more sustainable and efficient energy model, as they enhance the ability to utilise energy produced from renewable sources and reduce losses,” he added.

The partnership is expected to contribute to the development of a more mature ecosystem for energy storage projects in Greece.