Serbia’s ElevenEs (Subotica) continues to develop its industrial production project for lithium-iron-phosphate (LFP) batteries: the current line in Subotica operates as Europe’s first LFP cell production site, and the company is finalizing plans to build a “mega-factory” with a target capacity of 1 GWh per year and is working on further expansion to 8 GWh. This is evidenced by company and management announcements for 2023-2025, as well as recent industry reports.
The launch was reported in April 2023: the company specializes in prismatic LFP cells and was the “first” operating industrial site of this type in the EU. At launch, the company declared an output of 300-500 MWh/year, with ramp-up in 2024-25.
The corporate website states that the team has 100+ employees; in May 2025, a new type of prismatic “blade” cell EDGE574 for transportation and industrial applications was introduced.
In an interview on February 11, 2025. ElevenEs CEO Nemanja Mikač said the company is “finalizing the project” to build a 1 GWh/year plant; 2026 is described as a “key year” for scaling. At the end of May 2025, the company confirmed a 1 GWh “mega-factory” target and plans to build an 8 GWh gigafactory in Serbia. Timing and sources of financing were not disclosed.
Recycling/disposal. In June 2025, ElevenEs announced an agreement to establish a JV for LFP waste/spent cell recycling, tying the initiative to future scale-up of production.
Nickel- and cobalt-free LFP chemistry is valued for its safety, resource and cycle cost – these are the niches ElevenEs is targeting (energy storage, commercial transportation, “industrial” applications). For Serbia, the project means the formation of a link in the European battery supply chain, and for the EU it means diversification of LFP production in the region.
A number of strategic figures in the public space (e.g. possible transition to tens of GWh by 2030) are indicative and depend on financing and signed off-takes; industry studies separately note the risk factors of European battery projects. We rely on confirmed near-term targets (1 and 8 GWh) and the actual operating site in Subotica.
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DTEK, together with the American company Fluence, has built a 200 MW energy storage facility (ESF), which is currently the largest such complex in Ukraine, the energy holding company reported.
“The DTEK Group has commissioned 200 MW of ESS facilities, created in partnership with the leading American company Fluence, a global leader in energy storage. The company has connected six new facilities of various capacities, ranging from 20 to 50 MW, to the power grid in the Kyiv and Dnipropetrovsk regions,” DTEK said in a press release on Thursday.
According to the release, DTEK’s investment in the construction of the complex, which lasted from March to August 2025, amounted to EUR125 million, and in total, the system will be able to store 400 MW*h of electricity, which is enough to supply 600,000 Ukrainian homes for two hours.
“In the context of massive attacks on the Ukrainian power system, the role of energy storage systems has become as fundamental as generation itself. The National Renewable Energy Action Plan until 2030, adopted by the government, clearly defines the need for such installations, and today we are seeing strategic goals being implemented. I am grateful to the DTEK Group for its proactivity in this matter and to our American partners at Fluence for their advanced technologies, thanks to which each new megawatt of storage acts as a shield for the entire power system. This means greater security for Ukrainians and fewer risks of emergency blackouts,” commented Ukrainian Energy Minister Svitlana Grinchuk.
DTEK CEO Maxim Timchenko called the launch of the UZE complex a historic step for the Ukrainian power grid, which will determine its development for years to come.
“We implemented it together with Fluence, a global leader in energy storage. In cooperation with our American partners, we are integrating the most advanced technologies to make Ukraine’s power system more reliable and resilient,” he said.
According to Fluence CEO Julian Nebreza, this is a joint contribution to creating a stronger, more resilient, and decentralized energy system that will ensure Ukraine’s long-term stability.
“We are honored to be working with DTEK on this landmark energy storage project. The extraordinary determination and efficiency that DTEK has demonstrated in implementing this project is truly inspiring. This achievement is a testament to resilience and a symbol of what can be achieved through close international cooperation. Even in these extremely challenging times, innovation and partnership can pave the way to greater energy security,” Nebreda emphasized.
As reported, DTEK and Fluence announced their intention to implement a project for modern energy storage systems (ESS, energy storage, energy storage facilities) in Ukraine with a capacity of 200 MW and a cost of EUR140 million in January 2025. It involved six energy storage facilities.
In June 2025, the DTEK energy holding received a EUR67 million loan from a consortium of Ukrainian banks consisting of Oschadbank, PUMB, and Ukrgasbank (UGB) for the construction of an 180 MW ESS.
At the time, the energy holding company noted that this was the first loan of this scale in Ukraine for the development of energy storage technologies, and the project itself was one of the largest in Eastern Europe.
DTEK won a special auction held by NPC Ukrenergo for the provision of automatic frequency restoration reserve (AFRR) services with 140 MW of UZE. Under the terms of the auction, NEC will purchase these services at the auction price for five years, starting October 1, 2025.
Fluence, headquartered in Washington, was founded in 2018 by Siemens and AES Corporation. The company has built approximately 35 GWh of energy storage capacity and approximately 30 GW of renewable energy sources.
Fluence has significant experience in integrating energy storage facilities into national energy infrastructures, with a portfolio of energy storage projects with a capacity of 201 MW in Lithuania and 450 MW in Germany.
DTEK was established in 2005 to manage the energy assets of Rinat Akhmetov’s System Capital Management (SCM, Donetsk) group. The corporation has been delegated the functions of strategic management of the group’s enterprises, which have formed a vertically integrated chain of coal mining and enrichment, electricity production and sales.
An additional 591 MW of new generation was created in six months of 2025 in the regions of Ukraine, most of which – 320.2 MW – was due to connected capacity through cogeneration, said Deputy Head of the Presidential Office Viktor Mykyta.
“Communities and regions are confidently pursuing energy decentralization… Innovative projects will make it impossible for the enemy to destroy the new decentralized energy system,” he wrote in a telegram on Sunday.
Mykyta clarified that the total amount also includes 84 MW of connected capacity from wind farms, 101.4 MW from solar power plants (SPPs) and 84 MW from SPPs installed in private households, and another 1.2 MW from mini-CHPs.
As reported, at the end of 2024, the Ministry of Energy reported that the total capacity of distributed gas-fired generation units connected in Ukraine last year amounted to 967 MW, of which 835 MW were commissioned in 2024.
According to Vladyslav Sokolovskyi, Chairman of the Board of the Solar Energy Association of Ukraine, in 2024, approximately 800-850 MW of solar power plants will be built in Ukraine at the expense of businesses and households, while wind farms added only 20.6 MW of new capacity last year, according to Andriy Konechenkov, Chairman of the Board of the Ukrainian Wind Energy Association.
The Organization of Petroleum Exporting Countries (OPEC) has published a long-term forecast for the period until 2050, according to which oil and natural gas will remain the main sources of energy, occupying more than half of the global energy balance. This confirms the importance of hydrocarbons in the global economy and the strategic nature of energy policy.
Oil and gas demand forecast
The key drivers are:
Contradictions with other forecasts
This outlook indicates that oil and gas will retain its prominent position for at least the next 25 years. And while renewable energy is rapidly gaining momentum, the transition away from the traditional energy system must be smooth and gradual, taking into account real economic and social factors.
The rise in energy prices as a result of the conflict in the Middle East could weaken economic growth in the eurozone and thus smooth out inflation, said Luis de Guindos, deputy head of the European Central Bank (ECB).
“The emergence of the Iranian-Israeli conflict adds some uncertainty to the dynamics of oil prices,” The Wall Street Journal quoted him as saying. It is therefore important to keep a close eye on developments in the real economy as an indicator of inflation prospects.”
According to de Guindos, the increase in duties on European exports to the United States will certainly slow down inflation in the currency bloc, including because it will weaken economic growth.
“Higher duties are expected even if bilateral negotiations are successful,” the deputy head said. The ECB cut its key policy rate in June and made it clear that it was nearing the end of its monetary easing cycle. In May, inflation in the euro area was below the 2% target.
However, de Guindos’ comments suggest that the rate may have to be cut further to keep inflation around 2%, the WSJ writes.
Source: http://relocation.com.ua/rising-energy-prices-could-weaken-economic-growth-in-europe/
The Poltava Oil Extraction Plant (POEZ) of the Kernel agricultural holding has officially switched to renewable energy sources certified by the international organization Bureau Veritas Group, the company’s press service reported on Facebook.
According to the report, the agricultural holding will fully supply POEZ with renewable energy from sunflower husks, thereby reducing its dependence on fossil fuels and cutting greenhouse gas emissions by more than 11,000 tons per year. In addition, autonomous power generation will ensure continuity of production and reduce risks to food security.
“This is another step towards transforming Ukraine into a sustainable, energy-independent, and innovative country that knows how to turn agricultural resources into strategic advantages. Now our consumers can make an informed choice and contribute to the green recovery of the country’s economy by supporting a producer of certified sustainable oil,” Kernel emphasized.
It is specified that POEZ became the first company in Ukraine’s food sector to join the Science Based Targets Initiative (SBTi). In addition, it intends to support communities and supply surplus “green” energy to Ukraine’s power grid.
“This step is part of Kernel’s efforts to decarbonize and ensure climate resilience at every stage of our work: from the field to logistics,” the agricultural holding summarized.
The Poltava OEZ of the Kernel agricultural holding specializes in the production of sunflower oil under the Stozhar trademark. Previously, oil under this brand was produced in Vovchansk (Kharkiv region). With the start of the full-scale invasion of Ukraine by the Russian Federation, the work of the SEZ in Vovchansk was suspended and its capacities were transferred to the Poltava region. Before the war, the processing capacity of the Vovchansk SEZ was 330,000 tons of sunflower seeds per year. In turn, the Poltava SEZ is designed to process up to 430,000 tons of sunflower seeds per year and produces unrefined, refined, and hydrated vegetable oil, as well as meal.
Before the war, the Kernel agricultural holding company ranked first in the world in the production of sunflower oil (about 7% of world production) and its export (about 12%). It is one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
In the first nine months of 2025, Kernel increased its net profit by 7% to $218 million, with revenue growing by 19% to $3.092 billion and EBITDA increasing by 4% to $398 million.
