DTEK and GE Vernova sign MoU to advance major gas power project in Ukraine

• Project a key part of Ukraine’s development of gas-fired flexible generation capacity
• 650 MW power plant named by Ukraine as one of 18 flagship projects on Thursday
• DTEK’s 650 MW Poltava windfarm also designated a flagship project at URC in Poland

DTEK, Ukraine’s largest private energy company, and GE Vernova, a global leader in energy technology, today signed a memorandum of understanding (MoU) to advance the development of a new gas-fired power plant in western Ukraine.

The agreement establishes a framework for cooperation on a new 650 MW combined-cycle gas turbine (CCGT) project at DTEK’s Burshtyn power plant site in Western Ukraine. The move is part of DTEK’s strategic coal-to-gas conversion programme and intended to support the country’s energy system with more flexible, lower-carbon power.

The memorandum was signed in the presence of First Deputy Prime Minister Denys Shmyhal on the sidelines of the Ukraine Recovery Conference in Gdansk, Poland – a key forum for governments, financial institutions and private-sector investors to catalyse Ukraine's reconstruction.

DTEK and GE Vernova will collaborate on the potential deployment of advanced gas turbine technology, equipment supply and the development of financing structures for the project, as well as ancillary equipment to join the power plant to the grid. The agreement also reflects a shared ambition to support Ukraine’s energy security, system resilience and long-term decarbonisation.

First Deputy Prime Minister Denys Shmyhal said:

“A new 650 MW combined-cycle gas power plant will strengthen one of Ukraine’s generation facilities. The corresponding memorandum was signed in my presence and in the presence of representatives of the US Government between the Ukrainian company DTEK and the American company GE Vernova on the sidelines of URC2026 in Gdańsk.

“Amid unprecedented attacks on Ukraine’s energy sector, such investments are of critical importance for the restoration and development of our generating capacity. The power plant will enhance the flexibility and resilience of the energy system in wartime conditions. I thank Ukrainian energy workers for their resilience. I thank our American partners and the United States for their trust and readiness to invest in Ukraine’s energy future. The restoration of energy infrastructure remains one of the key priorities on the path to sustainable development and the country’s recovery.”

DTEK CEO Maxim Timchenko, said:

“This partnership with GE Vernova demonstrates that global industry leaders are ready to invest in Ukraine’s energy future despite the ongoing war. The Burshtyn project is not only about rebuilding what has been destroyed – it is about building a modern, flexible energy system aligned with Europe’s transition. By combining world-class technology with international financing, we are creating a compelling investment opportunity at scale.”

Roger Martella, Chief Corporate Officer & Chief Sustainability Officer of GE Vernova, said

“GE Vernova has supported Ukraine’s efforts to enable electricity for its people from the beginning, and is committed to the reconstruction and long-term resilience of its energy infrastructure. As we look to the future, large-scale, flexible gas power generation and critical grid equipment will be a cornerstone of Ukraine’s energy security. This memorandum with DTEK underscores our partnership to provide efficient and flexible electrification technology and expertise in building a robust, sustainable energy future for Ukraine."

Flagship projects

The CCGT power plant is one of two DTEK initiatives named as flagship projects by the Ukrainian Government at the URC. The 18 projects will serve as the foundation for the "Economy of the Future," a plan to catalyse Ukraine's economic recovery with concrete infrastructure projects.

The 18 projects were presented by Yegor Perelygin, Deputy Minister of Economy, as backbone of the "Economy of the Future" plan at the URC– a meeting of government and private sector stakeholders gathering to catalyse multi-billion-euro investment flows into Ukraine.

Key facts on DTEK’s CCGT project

Designed to provide Ukraine with a key source of flexible generation that can be turned on within minutes – bridging ‘baseload’ capacity and enabling intermittent renewable generation.

• Total investment size: €900 million
• Installed capacity / infrastructure scope: up to 650 MW
• Expected annual output: Up to 5 TWh per annum
• Execution timeline: Targeting commercial operation before 2032

Key facts on Poltava WPP project

DTEK’s second project is the 650 MW Poltava Wind Power Plant in central Ukraine. It will provide a decentralised source of electricity for up to 1 million homes and is ready to begin construction at the beginning of 2027. Poltava will become Eastern Europe’s largest onshore windfarm. DTEK is already engaging with international financial institutions and private investors to structure participation across equity, debt, and strategic partnership models.

• Total investment size: c. €1.2 billion
• Installed capacity : 650 MW
• Expected annual output: over 2 TWh (enough to power c. 1 million households)
• Execution timeline: Ready-to-Build stage in H2 2026. Full operation by 2029

Both Poltava and the CCGT power plant align with DTEK's new Energy Transition Plan and support Ukraine’s ambition to build a stable and resilient energy system.