Poland's ELQ to Invest €2.5 Billion in Ukraine Solar and Energy Storage Projects

Poland's ELQ plans to invest €2.5 billion in solar and energy storage projects in Ukraine, with nine projects in development and ten under consideration, totaling 1.1GW capacity. The investment will be supported by US and Saudi Arabian partners, with ELQ providing 10% equity. The World Bank estimates reconstruction costs in Ukraine at US$588 billion, with the energy sector needing US$91 billion. ELQ's move aims to address energy shortages due to destruction from the war.

Published Mar 25, 2026

ELQ, a Polish company, is set to invest €2.5 billion in solar and energy storage initiatives in Ukraine, currently developing nine projects with an additional ten under consideration, amounting to 1.1GW of capacity. The investment will be partially supported by unidentified US and Saudi Arabian partners, with ELQ contributing 10% equity, while 60% will come from international institutions and 30% from private investors.

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The World Bank has reported that reconstruction in Ukraine will cost nearly US$588 billion, with the energy sector needing US$91 billion. ELQ's investment aims to alleviate energy shortages exacerbated by the war.