On June 22, DTEK CEO Maxim Timchenko spoke at the Ukraine Recovery Conference 2023 in London, where he called on businesses and investors to invest in the construction of the second stage of the 384 MW Tyligulska wind power plant, Interfax-Ukraine news agency reports.

According to Maxim Timchenko, DTEK is ready to continue the construction of the wind farm and plans to raise 70% of the capital needed out of the €450 million.

"It was important for us to bring a specific project to this conference. Some of us here have been having a long internal discussion about whether we can afford to invest EUR100 million and continue to build what we promised and remain a leader in the renewables sector and in decarbonization. We decided to go ahead with it. This will be one of the largest wind parks not only in Ukraine but also in Eastern Europe," Timchenko said during a business table on reforming Ukraine's energy sector at URC2023.

According to him, DTEK is ready to invest 30% of the funds in the project itself.

"This is where we ask for capital. So, we say that we have 384 MW of capacity ready for construction. We promise that they can be built in 18 months, which should be a record time for any project of this size. But for this, we need EUR 450 million. And I think it's time for our financial institutions, our donors and other stakeholders to participate in this project," said DTEK CEO.

At the same time, Maxim Timchenko emphasized that DTEK's construction of the first stage of the Tyligulska WPP during the war is the main argument for all investors who are invited to come to Ukraine that the company can build and commission facilities.

According to him, this is a contribution not only to decarbonization, but also to energy independence, as it is obvious that it is quite difficult for russian troops to destroy distributed generation.

Speaking in general about the plans for the development of the energy sector presented by Ukraine, Maxim Timchenko noted: "If at least 50% of the plans are implemented, Ukraine can become a leading supplier of green energy in the world."

At the same time, he expressed confidence that these plans will not be implemented without attracting private capital.

"And for me, a clear condition is how the private sector will be involved. All these intentions to restore Ukraine cannot be realized without the involvement of the private sector. It is important that we feel confident and ready to be a part of this, it is important to coordinate our vision," said DTEK CEO.

Based on the materials of the Interfax-Ukraine agency.