Concorde Capital investment group and its partners have officially launched the first phase of the Encraft project, which is a network of distributed generation facilities and energy storage systems, founder and owner Igor Mazepa announced on Friday.
“Yesterday, the first gas piston started operating, and there are eight of them in total. Within two weeks, all of them will start generating power,” he wrote on his Facebook page.
According to Mazepa, the first 18.4 MW of gas piston power plants are ready for commercial operation, and electricity will begin to be sold to the grid starting on Friday, February 20.
“The initial investment amounted to approximately EUR15 million, most of which was covered by Concorde’s own capital, with the remainder coming from private investors who joined the project,” said the company’s founder.
He added that the project is still expanding, and by the end of 2026, the company plans to launch another 60 MW/240 MWh of energy storage capacity throughout Ukraine.
“We would like to thank all the investors who have joined us for their trust, and we invite new investors to join the second phase of Encraft,” Mazepa said to potential investors.
As reported, at the end of last year, Concorde Capital planned to launch 18.4 MW of gas piston generation, which was under construction at the time, in early 2026.
In early 2025, Mazepa, with the help of four unnamed partners, purchased a 50 MW energy storage system for EUR 32 million and planned to contract equipment for a gas power plant for EUR 30 million to create a single energy complex.
