Fitch Ratings published DTEK Renewables B.V. Long-term Rating

Fitch Ratings published DTEK Renewables B.V. Long-term Rating

DTEK06 July 2018

Fitch Ratings, the international rating agency, published today DTEK Renewables B.V. Long-term Rating at ‘B-’, Outlook Stable.

This rating equals to the level of sovereign rating of Ukraine.

DTEK Renewables B.V. is the holding company consolidating all of DTEK’s assets in the renewable energy sector. The company’s portfolio includes operating assets as the Botievo Wind Farm (200 MW) and Tryfanovska SPP (10 MW). Another two projects are currently under construction – Nikopol SPP (200 MW) and the first stage of Primorskaya WEP (100 MW). The company expects to build up its current portfolio by five times up to a total close of 1 GW by the year 2020.

The agency notes that good ratings are underpinned by the company’s stable financial position and a supportive regulatory framework for the Ukrainian renewable energy sector. The rating is constrained by the still relatively small size of the company compared to other European utilities focused on renewables, and general risks of the operational and macroeconomic environment of Ukraine.

“The rating of DTEK Renewables B.V. assigned by Fitch Ratings confirms the economic strength and stable outlook for the company. This independent rating provides a good benchmark for our business and should send a positive signal to external credit markets,” commented Philipp Leckebusch, CEO of DTEK Renewables.

Reference

DТЕК is the largest private investor in Ukraine’s energy sector.
DTEK Group produces coal and natural gas, generates electricity at the termal, solar and wind power plants, distributes electricity, supplies electricity to end consumers, provides energy efficient solutions and develops a network of EV charging stations.
In 2018, DTEK’s capital investments totalled UAH 20 bln. besides, the company paid UAH 27 bln of taxes. DTEK employs 80 thousand people. The company is 100% owned by SCM Limited. Ultimate beneficial owner – Rinat Akhmetov.

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DTEK
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