The construction of Tyligulska WPP will stimulate investment inflow to Ukraine – Oleksandr Selyshchev
The construction of the first stage of DTEK Tyligulska wind power plant amid war has demonstrated to the world the ability to build new renewable energy facilities, and this result will help increase the flow of investments in the development of this industry in the coming years.
This was stated on June 13th by CEO of DTEK Renewables Oleksandr Selyshchev at the conference "From Principles to Action: Towards Ukraine Recovery Conference 2023" organized by the UN Global Compact in Ukraine.
During the panel discussion "Investing in a Better Future: Transparency, Prospects and Business Success", Oleksandr Selyshchev spoke about the case of Tyligulska WPP – from the halt in construction since the russian invasion and evacuation of employees to the gradual resumption of work, ensuring a set of safety measures to complete 13 wind turbines in extremely difficult conditions in winter and commissioning the plant this spring with 19 wind turbines with a total capacity of 114 MW.
"Everyone understands how important electricity was this winter. 114 MW may seem like a small capacity, but it is not small for Ukraine. If consumers had more electricity for 5-10 minutes, it is already a very useful effect," said Oleksandr Selyshchev.
According to him, the example of the resumption of the Tyligulska WPP project encouraged other companies to unfreeze the construction of wind farms in Ukraine during martial law. At the same time, DTEK Renewables is already in the active stage of seeking funding for the implementation of the second stage of Tyligulska WPP, the completion of which will cost more than €400 million.
"We are very optimistic and believe that we will find the money. We are preparing to add almost 400 MW of capacity to Ukrainian power system at the end of this year or in early 2024. Also this year, we decided to continue the development program of a new wind farm in Poltava region with a capacity of over 600 MW," said DTEK Renewables CEO.
DTEK Renewables supports the initiative to reach 30 GW by 2030. It stipulates that Ukraine should build about 3 GW of renewable energy capacity annually. The company will actively contribute to the achievement of these goals, which is necessary not only for Ukraine's domestic electricity needs, but also for the development of electricity exports, as well as hydrogen production and exports.
"We are trying to look to the future, we believe in victory and that despite the war, there will be investments. I hope that our example will inspire other investors and we will attract more investments to our country," summarized Oleksandr Selyshchev during the discussion.