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.


DTEK is a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK.
DTEK companies produce coal and natural gas, generate electric power at the fossil-fuel fired power plants and renewable energy power plants, supply thermal and electric power to end consumers, and provide energy services. The operating companies directly manage production companies in each of the business streams.
DTEK’s production indicators for 2017: the company has produced 27.7 mn tonnes of coal, 1.655 bcm of natural gas, generated (supplied) 37.1 bn kWh of electric power, of which 637.8 mn kWh have been provided by the renewable energy sources; and transmitted 43.2 bn kWh of electric power via the grid.
DTEK is a part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.
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