DTEK launched cooperation with the national energy company of Croatia

Today, on October 10th, DTEK and the national energy company of Croatia, HEP d.d. (Hrvatska elektroprivreda d.d.) signed the Memorandum of understanding and business cooperation. The document was signed by DTEK CEO Maxim Timchenko and Frane Barbarić, HEP d.d. President of the Board.The signing ceremony was attended by the Prime Minister of Republic of Croatia Andrej Plenković and Charge d’affaires a.i. of the Ukrainian Embassy in the Republic of Croatia Serhii Horopakha.

The memorandum opens joint opportunities in the field of energy trade, the implementation of projects at the foreign markets, including investment in energy assets.

The first step in the framework of cooperation between DTEK and HEP d.d. is a test electricity supply by DTEK Hungary Power Trade to the Croatian company amounting to 2.5 ths MWh, in October this year. Next year, trade can reach up to 1.3 mln MWh.

“Entry into international markets and global partnerships are one of the key vectors of DTEK’s long-term strategy. We already cooperate with more than 20 European energy traders, which confirms DTEK’s reputation as a reliable international partner. The memorandum signed with HEP d.d., a leader of the Croatian energy sector, is another step towards expanding DTEK’s presence in the European energy markets. It will make the Ukrainian energy system closer to the European energy system, contributing to further strengthening of the energy security of Ukraine,” Maxim Timchenko says.

“We expect that our cooperation will promote growth and accomplishment of the best business results. Our partnership will also provide significant contribution to the achievement of Croatia's strategic goals, such as energy sources diversification, enhancing Croatia’s energy security and stability. DTEK as well as HEP d. d. have already achieved significant progress in the renewable energy sector over the past few years. We see great opportunities for intensive cooperation in RES development” said Frane Barbarić.

During the meeting, Andrej Plenković and Maxim Timchenko discussed cooperation of Ukraine and Croatia in the energy sector, specifically, coordination of efforts towards integration of the energy markets and attraction of investments.