In an interview with CNBC, DTEK CEO Maxim Timchenko shared his vision for Ukraine's energy future, highlighting the critical role of renewable energy in both addressing climate change and enhancing national security.
Timchenko explained that Ukraine’s push to expand wind, solar, and battery storage capabilities is not only about achieving climate neutrality but also about making the country's energy infrastructure more resilient to russian attacks. He emphasised the stark difference between traditional energy sources like coal-fired power plants and renewable energy systems:
“If you take one coal-fired power unit, 300 megawatt, it's the same as 50 wind turbines. This 300 megawatt can be destroyed by one, two missiles, but it's absolutely impossible to destroy the same capacity of wind or solar or distributed power generation.”
Despite the ongoing war, DTEK has continued to invest in Ukraine’s energy sector, with more than $1 billion invested over the past two years. Timchenko expressed confidence that the war will end on fair terms, as President Zelensky has often stated, and underscored the importance of international support, particularly from American companies, in helping Ukraine build a more sustainable and secure energy system.
As Ukraine’s energy grid was connected to the European Union in 2022, Timchenko anticipates a growing influx of investments, particularly from American firms interested in Ukraine's wind and solar potential, as well as critical minerals and oil production.
To hear more about Ukraine's ambitious energy goals and Timchenko’s insights on the future of the energy transition, watch the full interview.
