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The Economist: Half Ukraine’s power is knocked out; winter is coming

16 July 2024, Ukraine
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<strong>The Economist:</strong> Half Ukraine’s power is knocked out; winter is coming
The Economist: Half Ukraine’s power is knocked out; winter is coming
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“The chug of generators has returned to Kyiv's streets and there are power cuts in every Ukrainian city. Russian attacks continue. There are not enough air-defense batteries to knock out all the missiles.”

The Economist reports on the extensive damage to Ukraine's power infrastructure and the efforts to maintain electricity supply in the face of ongoing attacks. The piece featured insights from DTEK, Ukraine's largest private energy company, and its CEO Maxim Timchenko.

Detailing the destruction of power plants across Ukraine, the story highlights damage to DTEK's generating capacity; 90% of thermal generation has been damaged or destroyed this year. Despite these challenges, the company is exploring innovative solutions to restore and diversify Ukraine's energy sources.

Timchenko emphasized the unexpected positive outcome of the conflict on Ukraine's energy sector: "The irony of this destruction and this war is that it accelerated the decarbonization of the energy industry of Ukraine."

He highlighted DTEK's recent completion of a 114MW wind farm near the front line and the company's quick response in repairing damaged solar installations.

The DTEK CEO also emphasized the strategic advantages of renewable energy sources in the current context.

"It's only one missile to destroy a 300MW coal-fired power station," Timchenko noted. "But they need 50 missiles to destroy the same capacity in a wind farm."

For more details on Ukraine's energy challenges and DTEK's response, read the full article in The Economist.

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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.