On May 15, during the Ukraine Financing Forum: Unlocking International Opportunities organized by Sayenko Kharenko law firm, Polina Korchak, Head of the Economics and Finance Department at DTEK Renewables, shared insights on securing funding for one of the largest green energy projects in Ukraine — the Tyligulska Wind Power Plant.
During a panel discussion, Polina Korchak spoke about the challenges and achievements associated with the construction of the first phase of the Tyligulska Wind Power Plant, implemented despite the extremely difficult circumstances of a full-scale war. According to her, the project has become a symbol of resilience, engineering endurance, and belief in Ukraine’s victory.
Special attention was given to securing a record €370 million in financing for the second phase of the wind power plant, backed by Denmark’s Export and Investment Fund (EIFO). This second phase will add 386 MW of capacity. This milestone was made possible due to thorough project preparation and close collaboration with international partners — Vestas and EIFO.
“We always carry out in-depth project preparation in line with best practices and international standards. That’s why we’re able to secure financing even under extreme conditions. It is essential to take every opportunity to attract foreign capital for such projects, because only then can we build the gigawatts of new capacity needed to replace the 10 GW lost due to Russian aggression,” emphasized Polina Korchak.
Polina also noted that the country needs international partners willing to develop tailored financing programs for renewable energy projects. According to her, such initiatives are critically important for scaling up renewable energy during wartime and post-war recovery.
At the same time, key issues for investors remain, including war risk insurance, capital protection, investment return guarantees, and improvements to the regulatory framework. Addressing these challenges is a prerequisite for the further active inflow of international financing into Ukraine’s energy sector.
