DTEK WINS HAGUE CASE AGAINST RUSSIA OVER SEIZED CRIMEAN ASSETS
On November 2, DTEK Group announced that The International Arbitral Tribunal seated in the Hague has ordered Russia to pay DTEK $267 million in damages for the seizure of company assets in illegally occupied Crimea. The lawsuit, first filed in 2017, relates to the seizure of the Group's DTEK Krymenergo business, an energy distribution and supply company. russia seized the assets following the occupation of Crimea in 2014.
DTEK OUTLINES PLANS FOR NEW WINDFARM DESPITE WAR
Ukraine’s leading private energy company has launched pre-design details for a new wind power plant. DTEK Renewables has started pre-design works for the Poltavska Wind Power Plant (WPP), which will be in the Hlobyne town community in the Poltava region, around 140 miles (225 km) east of the capital, Kyiv. On 26 October, the company signed a trilateral agreement with the executive committee of the Hlobyne City Council and a specialized certified organization that will provide a range of spatial planning works.
FINANCIAL TIMES: UKRAINE BRACED FOR ATTACKS ON ITS POWER GRID AS WINTER DRAWS IN
Maxim Timchenko, DTEK CEO, is quoted in a story by the Financial Times on the Ukrainian energy system’s winter preparations. In it Mr Timchenko emphasises the advantages of renewable energy in creating a more resilient energy system. He made the point that last winter, after russia completely destroyed one of DTEK’s 300MW coal-burning generator units, it invested in dozens of smaller 6 MW turbines – decentralising energy production and therefore making it harder to take out with one hit.
“They can hit one turbine but 49 would still be operating,” he told the FT.
FINANCIAL TIMES ENERGY TRANSITION SUMMIT: DTEK CEO DISCUSSES UKRAINE'S ENERGY CHALLENGES AND OPPORTUNITIES
On 1 November, Mr Timchenko sat down with global industry leaders in London for the Financial Times Energy Transition Summit. In an interview with the paper’s EU Correspondent Alice Hancock, his said:
- On green energy: Today, Europe is helping Ukraine defend democracy. In 10 years' time, Ukraine will help defend Europe's energy security with green power.
- To investors: please don't think of Ukraine only as a warzone. Now is the moment to plan and prepare and understand its untapped potential.
- On russia's winter attacks: We have learnt many things we never wanted to learn: the best materials to protect grids and power stations; the need to power down systems before an attack; how to route power to the country when lines are down. The key this winter however, will be air defence systems and the resilience of DTEKs heroic employees.
DTEK POWER STATION SEVERELY DAMAGED IN RUSSIAN ATTACK*
A DTEK Energy thermal power plant near frontline fighting with russia was hit in an attack designed to damage Ukraine's energy system late on Monday, October 30.
No employees were hurt, but the attack on civilian infrastructure caused severe damage and knocked out power and water in a nearby town.
KPMG IN UKRAINE COMPLETES DTEK PROJECT TO DOCUMENT CONTROL MECHANISMS USED IN TRACKING FOREIGN ASSISTANCE
DTEK Group has completed a project with KPMG to outline its control framework governing the distribution of international donor assistance. DTEK is one of a handful of Ukrainian companies receiving Western support to commission such a project in its drive to strengthen transparency and anti-corruption safeguards further.
DTEK RENEWABLES TEAM ASSISTS IN THE IMPLEMENTATION OF INTERNATIONAL RENEWABLE ENERGY PROJECTS
Ukrainian specialists of DTEK Renewables remotely provide consultancy on the construction of solar and wind energy projects outside of Ukraine, as they have in-depth experience in implementing renewable energy projects in challenging conditions.
Since August, the company's employees have been supporting work at construction sites in Romania, where DTEK Group the first foreign renewable energy projects are being implemented. In particular, a 60 MW wind farm and a 50 MW solar power plant are being built there.
