DTEK and GE Vernova to work together on stronger, greener energy system

12 June 2024, Berlin - DTEK Group today announce the signing of a memorandum of understanding (MOU) with GE Vernova at the Ukraine Recovery Conference that lays the foundation for cooperation to meet the challenges of green transition, energy security and building modern grids across Ukraine and the European Union.

The MoU wassigned at the conference in Berlin by DTEK CEO Maxim Timchenko and Viktor Kamyshev, General Manager of GE Vernova’sGrid Solutions business, and in the presence of US Assistant Secretary of State for Energy Resources Geoffrey Pyatt and GE Vernova’s Chief Sustainability Officer Roger Martella.

DTEK and GE Vernova will work together on:

Wind power generation projects in Ukraine and the European Union.Related grid infrastructure for the implementation of wind power generation projects. Grid solutions aimed at modernizing Ukraine’s electricity grid to enhance supply reliability, minimize energy losses, and create a more flexible future-proofed network.Power generation projects to provide emergency power to Ukraine, such as open cycle gas turbines (OCGTs).Long-term power generation solutions, such as combined cycle gas turbines (CCGTs) to ensure the reliability and flexibility of the Ukrainian power system.

Maxim Timchenko, CEO of DTEK said: “GE Vernova and DTEK have a strong history together and I am confident that today’s agreement marks the start of a much broader relationship in Ukraine and across the EU – from grids and wind power to gas turbines and small modular reactors. Together our two companies can play a pivotal role in the urgent task of restoring Ukraine’s energy infrastructure today, while also creating a clean and resilient energy system for the future.”

The agreement builds on long-standing collaboration between the two companies. In 2018-2019, the two companies commissioned the 200 MW Prymorska windfarm near Zaporizhzhia. DTEK has also been working with GE Vernova’s Electrification business on solutions for Ukrainian power distribution grids as well as renewable projects.

BACKGROUND

DTEK Group is the largest private investor in the energy sector of Ukraine. The Group employs 55,000 people.

DTEK Group's companies are engaged in coal and natural gas mining, electricity production at wind, solar and thermal power plants, trade energy resources in the Ukrainian and international markets, distribute and supply electricity to consumers, provide energy-efficient services to customers, and develop a network of high-speed charging stations. In accordance with the Strategy 2030, DTEK strives to transform into a more energy-efficient, environmentally friendly and technological business, guided by ESG principles. DTEK is a member of the World Economic Forum’s Partnering Against Corruption Initiative (PACI). Our goal is to achieve carbon neutrality.

Since the beginning of the full-scale invasion, DTEK Group has restored power supply to more than 11 million consumers in the regions affected by the hostilities.

DTEK Group is 100% owned by SCM Limited. The ultimate beneficiary is Rinat Akhmetov.