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DTEK CEO tells Germany’s DW News about efforts to bolster Ukraine's energy security at URC, appeals for stronger air defense

15 June 2024, Ukraine
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DTEK CEO tells Germany’s DW News about efforts to bolster Ukraine's energy security at URC, appeals for stronger air defense
DTEK CEO tells Germany’s DW News about efforts to bolster Ukraine's energy security at URC, appeals for stronger air defense
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In an interview with DW News during the Ukraine Recovery Conference in Berlin (URC), DTEK CEO Maxim Timchenko shed light on the critical energy situation in Ukraine and the company's initiatives to address the challenges posed by russian attacks on the country's power infrastructure.

He revealed that since the end of March, russian airstrikes have destroyed 90% of Ukraine's thermal power generation capacity, 30% of hydropower facilities, and an overall 50% of the nation's total generation mix, a situation he described as "russian energy terror."

While DTEK has managed to maintain power supply to critical infrastructure, defence industries, and enterprises, the situation is deteriorating. Timchenko emphasised the need for consolidated efforts between energy companies, the government, and international allies and partners to tackle the crisis.

Among the key measures outlined by the DTEK CEO are plans to increase cross-border electricity imports from Europe by 30-35% and the acquisition of decommissioned coal and gas power station equipment from over 15 countries to be dismantled and installed in Ukraine's power plants, providing a quicker solution for the upcoming winter.

However, Timchenko warned that these efforts could be rendered futile without a robust air defence system to protect Ukraine's power stations from repeated attacks. He stressed that a strong air defence is crucial to safeguard the country's energy infrastructure and ensure the effectiveness of the restoration efforts.

Notably, he highlighted the irony of the war accelerating the decarbonisation process in Ukraine, with renewables now viewed as a more resilient and secure generation source compared to traditional coal, gas, or nuclear power plants. DTEK is ready to build 1.5 gigawatts of renewable energy projects, further underscoring the importance of energy diversification and security.

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DTEK Group is the largest private investor in Ukraine’s energy sector, with 55,000 employees and over €12 billion of capital invested since 2005.

Our businesses generate electricity at wind, solar and thermal power plants; distribute and supply power to end consumers; extract natural gas and coal; trade energy resources on Ukrainian and foreign markets; and provide domestic and commercial energy services.

Over the last 20 years, DTEK has grown into a national energy leader and is today transforming into a pan-European clean energy business.

Since the full-scale invasion of Ukraine in 2022, DTEK Group has restored power to millions of consumers across regions affected by hostilities.

DTEK Group is 100% owned by SCM Holdings. The ultimate beneficiary and sole shareholder is Rinat Akhmetov, a businessman and philanthropist.