DTEK
Photo 2023 01 14 18 40 16 1
Photo 2023 01 14 18 40 16 1
Photo 2023 01 14 18 40 16 1
Photo 2023 01 14 18 40 16 1
Photo 2023 01 14 18 40 16 1

Ukraine's DTEK Invests in European Energy Security

Jan. 17, 2023
Since Oct. 10, 2022, DTEK facilities have been hit by over 170 attacks by missiles, kamikaze drones and rockets.

Ukraine's DTEK CEO Maxim Timchenko this month joined the Atlantic Council’s discussion “Europe in Crisis: The path forward” at the 2023 Forum. The focus of the meeting was on the challenges of managing energy security and decarbonization efforts, including the increasing effect of the war in Ukraine on the energy transition process. DTEK Group is the leading and biggest private investor in Ukraine’s energy sector.

Maxim Timchenko, DTEK CEO, said, The energy crisis is different for the EU and Ukraine. For European people, this crisis is reflected in households’ bills and the cost of electricity. For Ukrainians, it is about the number of hours they have electricity supply or the number of hours they have to spend in a bomb shelter. In fact, it’s all about the energy war that started many years ago with the blackmailing of gas prices. For years we have warned that Putin is weaponizing energy and now we are all in this reality.”

Since Oct. 10, 2022, DTEK facilities have been hit by over 170 attacks by missiles, kamikaze drones and rockets. Russian attacks have damaged more than 11,000 pieces of DTEK’s thermal power plants’ equipment. Around 5-6 million people in Ukraine are cut off the electricity every day. And on Jan. 14, the Russians launched another missile attack targeting energy facilities in Ukraine, according to the release from DTEK.

Timchenko continued, “The formula of Ukrainian survival is unity. That means unity between private and state companies: we work together every day, exchange equipment and help each other. It is also unity between energy companies and the military, working together to protect our energy facilities, and become more experienced and creative. Importantly, it also means unity between Ukraine and the whole civilized world. We are so grateful for all the support we receive daily from our international partners. Ukraine will survive this winter and become stronger. And we will definitely win.”

Despite the war conditions, DTEK has resumed renewable electricity supply from Tryfonivska, a solar power plant that has been liberated from the occupiers. It is gradually resuming electricity, in particular providing energy for settlements in the Kherson region.

Timchenko concluded, “DTEK, Ukraine’s largest private energy company, is investing in Europe’s energy security. We first connected the Ukrainian grids to the European Grid System in March 2022, so our energy sector is already a part of the EU. It means that all future investments in Ukraine's energy sector should be considered as part of European energy security. Moreover, Ukraine has huge potential in developing renewable energy, meaning we can play a significant role in the European green transition.”

Other participants at the Forum included:

  • H.E. Ditte Juul Jørgensen, Director General for Energy, European Commission;
  • Amb. Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, US Department of State
  • Luis Cabra, Executive Managing Director, Energy Transition, Technology, Institutional Affairs, and Deputy CEO, Repsol
  • Ben Wilson, Chief Strategy & External Affairs Officer, National Grid
  • Anatol Feygin, Executive Vice President and Chief Commercial Officer, Cheniere Energ

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