DTEK has joined the Climate Bonds Initiative Partners Program
DTEK and Climate Bonds Initiative have signed a Partnership Agreement. Climate Bonds Initiative is an international not-for-profit organisation mobilizing debt capital towards financing sustainable energy & infrastructure projects. DTEK's initiative is closely tied to the national plans to increase the renewable energy share in the overall energy mix and opens new opportunities for fundraising in the global market.
By 2020 Ukraine is going to increase electricity production from renewable energy sources to 9 billion kWh per year in accordance with the Energy Strategy. Today, the country generates 1.6 billion kWh per year. "Ukraine's energy sector tends to follow global trends. Development of various energy sources creates a stable platform for further evolution of the sector taking into account the need for capacity substitution", said Maxim Timchenko CEO of DTEK. "We always welcome innovations and new business areas. To encourage the use of renewable energy, we build wind and solar power plants. Thus, we contribute to the development of new Ukrainian energy: clean, efficient and competitive".
DTEK is only the second Ukrainian company to partner with the Climate Bonds Initiative. The decision is a signal of their commitment to a low carbon transition. The partnership will help design mechanisms to attract financing for green energy projects, by opening up the Ukrainian green debt finance market and attracting private capital to fund key players’ climate ambitions in line with NDCs.
"Policy makers, investors, asset managers and the wider community want to see more brown to green financing and energy companies shifting generation towards clean sources", said Sean Kidney CEO of Climate Bonds. "We are starting to see some global examples but the pace must dramatically accelerate. Partnering with DTEK provides us with an opportunity to work with an Eastern European company that has both brown and green assets and is looking at how make that energy transition".
Climate Bonds Initiative is an investor-focused not-for-profit organization working to mobilise large-scale investment in a low-carbon economy. A list of Partners can be found here. For more information, visit www.climatebonds.net.