DTEK and Octopus Energy creating joint venture to mobilise €100 million of solar and battery storage projects for Ukraine

DTEK, Ukraine’s largest private energy company, and Octopus Energy Group, the UK’s biggest energy provider, on Thursday announce the two are creating a joint venture company to support the financing of Project RISE – their €100 million initiative to rollout energy-secure rooftop solar and battery storage across Ukraine.

The initiative gives Ukrainian businesses and public sector organisations the ability to generate and store electricity on site thereby reducing the impact of power outages as russia continues attacking large-scale energy infrastructure.

Since the concept was first announced in June 2025, DTEK and Octopus have launched a product via DTEK’s retail arm YASNO – demonstrating strong interest among customers. Installations will integrate Octopus Energy’s Kraken battery management system – lowering their electricity bills by giving customers the power to cut peak-hour consumption and sell surplus energy back to the grid. The joint venture company will install equipment at no upfront cost, before the customer can take ownership of the equipment after the 10-year contract ends.

Thursday’s agreement paves the way for DTEK and Octopus Energy to secure long-term financing for the project’s large-scale rollout. Octopus and DTEK are in negotiations with several financial institutions to finance the project. Both companies will hold an equity share in RISE.

DTEK CEO Maxim Timchenko said:

“Today marks an important milestone for Project RISE. Strengthening our partnership with Octopus Energy creates the platform to scale our project over the next five years and attract the investment needed for long-term success. The future of Ukraine’s energy relies on more distributed, more flexible and more resilient system. While many people still see Ukraine as a risk, our partners at Octopus rightly see an opportunity to build a stronger energy system that can be achieved through innovation and partnership.”

Founder and CEO of Octopus Energy, Greg Jackson, said:

“While old-school energy companies look at Ukraine and see too much risk, we see a nation building the most resilient, forward-thinking energy system on the planet. Distributed solar and batteries are the ultimate shield against infrastructure attacks – you can’t knock out a grid when every rooftop is its own power station. By pairing DTEK’s unmatched determination with our technology, we aren't just helping keep the lights on today; we are proving that a decentralised, green energy system is the fastest way to build a secure future."