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Financial Times: Ukraine pleads for western aid to restore power generation

12 June 2024, BERLIN
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<strong>Financial Times:</strong> Ukraine pleads for western aid to restore power generation
Financial Times: Ukraine pleads for western aid to restore power generation
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“As of today we have only 460 megawatts out of 5,000MW previously” -  DTEK CEO Maxim Timchenko in the Financial Times, speaking on the first day of the Ukraine Recovery Conference.

The piece reports on President Volodymir Zelensky’s keynote address to the many partners and allies gathered at the conference.

  • • “President Volodymyr Zelenskyy told a conference in Berlin on Tuesday that Ukraine had lost half of its electricity generating capacity as the result of the Russian attacks. Peak consumption last winter was 18 gigawatts, he said, but Russian strikes had destroyed 9GW.
  • • Energy, he said, continued to be “one of [Russian President Vladimir] Putin’s main targets.”

Maxim described four clear priorities:

  • • Increasing energy imports, from 1.7 GW to 2.2-2.5GW
  • • Sourcing power equipment from decommissioned plants in neighbouring countries
  • • Buying new equipment such as gas turbines
  • • Opening new credit lines with international donors for urgent repair works

“We need to make progress on all four of these fronts to avert disaster this winter,” he said.

Read the full article on the Financial Times website (paywall).

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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.