DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH has launched UkraineConnect, a new programme aimed at supporting German and European companies interested in investing in Ukraine. The initiative is financed by the Federal Ministry for Economic Affairs and Energy (BMWE) and was announced at the 8th German-Ukrainian Economic Forum in Berlin, where the first financing agreements were signed.
UkraineConnect is designed to complement existing tools such as export credit and investment guarantees, with the aim of enabling private sector activity even under challenging conditions. Through this programme, DEG seeks to strengthen Ukraine’s economic resilience by encouraging investment that contributes both economically and socially.
One company benefitting from UkraineConnect is Notus Energy GmbH from Potsdam. DEG is providing Notus Energy with a loan to develop a 120 MW wind farm in Ukraine. Notus Energy has been active since 2001, developing wind and solar farms across Europe and Latin America, employing 436 people, and having installed over 1.6 GW of wind energy capacity since its founding. The planned wind farm will help enhance Ukraine’s energy supply while promoting renewable energy expansion.
Another beneficiary is VKF Renzel Group, based in Germany’s Münsterland region. VKF Renzel specializes in retail product presentation solutions like brochure holders and displays, operating at 29 locations worldwide with around 900 employees. With support from UkraineConnect, VKF Renzel will build a new production and storage facility in Ukraine, creating about 35 jobs with fair working conditions and supporting local economic development.
Roland Siller, CEO of DEG, commented: “The first UkraineConnect loans show how diverse the investments can be: VKF Renzel is creating new jobs and strengthening the local economy, while Notus Energy is helping to shape Ukraine’s energy future with a wind farm. These are precisely the kinds of projects we want to facilitate – investments that combine economic activities with social responsibility.”
DEG has been involved in financing and advising private companies in Ukraine since the mid-1990s. Since February 2022, following the start of the war, it has worked alongside its subsidiary DEG Impulse to assist customers in supporting both the country’s economy and its citizens.