DTEK Energy Holding unveils 1.5-GW green energy plan

DTEK Energy Holding, Ukraine’s largest private energy company, announced plans to inject 1.5 GW of renewable energy into the country's power grid over the next three years.

Speaking on behalf of DTEK, CEO Maksym Timchenko outlined the company's ambitious strategy, underlining the imperative of diversifying Ukraine's energy mix.

"We have been advocating for distributed generation since the onset of the conflict. Our strategy pivots towards substantial investments in green energy," Timchenko affirmed.

The cornerstone of DTEK's green energy drive lies in the expansion of the Tyligulska wind power plant, with plans to augment its capacity by an additional 385 MW through an investment of €450mn.

Timchenko provided clarity on the imminent actions, revealing that construction of the second phase of the Tyligulska wind farm is slated to commence in May. Concurrently, preparations are underway for the initiation of construction on the Poltava wind farm, boasting a capacity of 650 MW.

Furthermore, DTEK is eyeing another substantial project in the Odesa region, with plans to add 500 MW to the power grid by the second quarter of 2025.

"In total, we anticipate injecting 1,500 MW of green energy into the power system within the next three years," Timchenko declared.

However, Timchenko acknowledged that realising these aspirations would necessitate substantial financing. He highlighted the challenge faced by Ukrainian companies in securing loans from commercial banks without guarantees from export credit agencies, a predicament hindering the construction of large-scale solar and wind power projects.