Piraeus Bank in Ukraine is launching a new business line focused on energy, infrastructure and technological modernisation, aiming to build a project finance portfolio of €100mn to €150mn over the next five years reported Ukraine Business News.

The Energy Industry & New Technology division will focus on distributed power generation, energy efficiency and environmental, social and governance investments, the bank said. Priority areas include renewable energy, energy storage, production automation and logistics infrastructure.

Financing will primarily target midsize corporate clients in agriculture, manufacturing, processing and retail, with the bank offering investment loans, project financing and tailored financial solutions.

Yannis Kyriakopoulos, chairman of the management board of Piraeus Bank in Ukraine, said the new business line was intended to strengthen Ukrainian companies’ energy independence, resilience and competitiveness.

“Ukraine’s energy sector is undergoing fundamental changes that create significant investment opportunities in generation, energy storage and energy infrastructure,” he said.

The bank plans to cooperate with international financial institutions and development partners to expand financing opportunities for eligible projects.

The new division will provide funding for companies investing in energy infrastructure and technological upgrades, while helping Piraeus Bank expand its presence in Ukraine’s energy and sustainable finance markets.

The planned portfolio target represents an investment in projects over five years rather than an immediate financing commitment. The bank did not specify how much of the portfolio would be funded directly from its own balance sheet or through partnerships with international institutions.