Joint initiative by Eurobank and Ktistor for battery storage expansion

Eurobank and Ktistor Group are establishing a cooperation framework to support investments in battery energy storage system (BESS) projects, aimed at boosting the development of small- and medium-scale facilities connected to the distribution network of HEDNO (DEDDIE).

The initiative concerns projects with capacities ranging from 1 to 10 MW, which are expected to participate in the competitive electricity market, as regulatory and market conditions gradually evolve to support the expansion of the storage sector.

The cooperation aims to provide end-to-end solutions for investors, covering the full lifecycle of storage projects—from development and construction to operation and market participation.

Focus on energy storage and renewable integration

Battery storage projects are considered critical for the transition to a more flexible and resilient energy system, as the growing penetration of renewable energy sources increases the need for electricity storage and improved management of production variability.

Storage capacity helps balance supply and demand while also optimizing the utilisation of renewable generation.

Under the agreement:

• Ktistor Group will provide services related to construction, operation, and maintenance of projects, along with technological support through EMS/SCADA systems and energy market representation.
• Eurobank will offer tailored financing solutions, aligned with project characteristics and the bank’s credit and investment criteria.

Building a mature storage ecosystem

Both parties believe the initiative can significantly contribute to the development of a more mature energy storage ecosystem in Greece, while strengthening grid stability and further supporting renewable energy penetration.

Iakovos Giannaklis stated that the partnership enhances the bank’s support for small-scale storage investments, providing access to financing and specialised expertise to facilitate project implementation.

He added that the goal is to accelerate investments aligned with the energy transition and ESG criteria. Meanwhile, Giorgos Tsikalakis noted that the collaboration reflects the group’s strategy to develop integrated energy solutions that meet evolving market needs, emphasizing that storage projects are a key pillar of a sustainable and efficient energy model by improving renewable energy utilisation and reducing system losses.