popular articles

The war accelerates Ukraine’s energy transition: €450 million for wind power

DTEK, Ukraine’s leading private energy producer, announces a record €450 million investment to expand wind energy, marking a significant step in the nation’s energy transformation accelerated by the conflict with Russia.

Please share:

The war in Ukraine has reshaped the country’s energy strategies. Facing Russian attacks on critical infrastructure, Ukraine is now focusing on a decentralized and resilient energy model. According to Maxym Timchenko, CEO of DTEK, the nation’s largest private energy producer, this transition is driven by the urgent need to secure energy supplies while reducing reliance on fossil fuels.

At the World Economic Forum in Davos, DTEK announced a historic €450 million investment for the purchase of 64 turbines from Danish manufacturer Vestas. These turbines will facilitate the expansion of the Tyligulska wind farm near the Black Sea. Partially financed by loans guaranteed by the Danish public fund EIFO, this project underscores Ukraine’s commitment to diversifying its energy sources despite ongoing challenges.

Energy resilience at the core of strategy

Wind and solar energy play a key role in this transformation. Unlike thermal and hydraulic power plants, renewable energy infrastructure is harder to target and destroy. According to Timchenko, each turbine can be connected to the grid as soon as it is installed, offering valuable flexibility. The goal is to add 60 megawatts to the grid by winter 2025 and reach a total capacity of 500 megawatts by the end of 2026. This would provide enough electricity for approximately 900,000 Ukrainian households.

Ongoing future projects

Simultaneously, DTEK is working on an energy storage project in partnership with Fluence, a German-American company specializing in this field. This infrastructure, expected to be operational by October, is part of a broader effort to ensure energy security. The company is also exploring new partnerships to develop additional wind farms, further solidifying its position in the renewable energy sector.

Currently, solar and wind power account for only 10% of Ukraine’s total electricity production, compared to 20% from gas and coal plants and 55% from nuclear energy. While the existing model remains vulnerable to Russian strikes, initiatives like DTEK’s aim to mitigate these risks by multiplying decentralized installations.

Challenges for a pressured sector

Since the beginning of the war, Ukraine’s energy infrastructure has faced repeated attacks. In 2024, all of DTEK’s power plants were targeted, leading to temporary shutdowns and a loss of production capacity. Despite this, approximately 60% to 70% of total production has been restored, allowing the country to avoid major blackouts through imports and reduced energy consumption.

Maxym Timchenko remains optimistic about the country’s ability to maintain stable supplies this winter. This confidence stems from combined efforts to diversify energy sources, protect infrastructure, and mobilize international funding.

Register free of charge for uninterrupted access.

Publicite

Recently published in

CIB grants $97mn loan for Wedgeport Wind Farm in Nova Scotia

The Wedgeport Wind project led by Elemental Energy secures $97mn from the Canada Infrastructure Bank to install 12 turbines in southwest Nova Scotia.
France’s first floating wind farm, Provence Grand Large, located off the Gulf of Fos, has been commissioned with a 25 MW capacity, supplying the equivalent annual electricity consumption of 45,000 people.
France’s first floating wind farm, Provence Grand Large, located off the Gulf of Fos, has been commissioned with a 25 MW capacity, supplying the equivalent annual electricity consumption of 45,000 people.
Norges Bank Investment Management has finalised the acquisition of stakes in RWE's German and Danish projects, representing 2.6 GW of planned installed capacity by 2029.
Norges Bank Investment Management has finalised the acquisition of stakes in RWE's German and Danish projects, representing 2.6 GW of planned installed capacity by 2029.
Enlight has secured $310mn in financing to convert Gecama into a 554 MW wind-solar-storage hybrid plant, making it the largest installation of its kind in Spain.
Enlight has secured $310mn in financing to convert Gecama into a 554 MW wind-solar-storage hybrid plant, making it the largest installation of its kind in Spain.

France adjusts offshore wind contracts to avoid losses during negative pricing

The contracts for the offshore wind farms of Fécamp, Saint-Nazaire and Saint-Brieuc have been amended to allow production shutdowns when electricity prices fall below zero on the market.
AMEA Power has completed the commissioning of a 500MW wind power plant in Ras Ghareb, bringing its total deployed capacity in Egypt to 1GW within six months.
AMEA Power has completed the commissioning of a 500MW wind power plant in Ras Ghareb, bringing its total deployed capacity in Egypt to 1GW within six months.
The 102 MW wind project in Québec secures structured loans from Canadian banks, marking a new stage for the joint venture between Innergex and the Mi'gmaq communities.
The 102 MW wind project in Québec secures structured loans from Canadian banks, marking a new stage for the joint venture between Innergex and the Mi'gmaq communities.
Aker Solutions will deliver the steel structure for an HVDC converter station for the offshore BalWin2 project developed by Amprion Offshore, under a contract valued at up to NOK2.5bn ($228mn).
Aker Solutions will deliver the steel structure for an HVDC converter station for the offshore BalWin2 project developed by Amprion Offshore, under a contract valued at up to NOK2.5bn ($228mn).

CIP sells 25% stake in offshore wind project in the Philippines to ACEN

Copenhagen Infrastructure Partners sells a minority stake in its 1 GW project to ACEN to accelerate its development ahead of upcoming energy auctions planned by the Philippine government.
Swedish wind developer Eolus has issued senior secured green bonds worth SEK550mn ($51.5mn), enabling the full refinancing of its existing debt.
Swedish wind developer Eolus has issued senior secured green bonds worth SEK550mn ($51.5mn), enabling the full refinancing of its existing debt.
The Mattheshöhe wind farm, composed of six turbines with a unit capacity of 4.26 MW, has entered operation under ENERTRAG’s management in the Uckermark region.
The Mattheshöhe wind farm, composed of six turbines with a unit capacity of 4.26 MW, has entered operation under ENERTRAG’s management in the Uckermark region.
French group VALOREM has inaugurated a 27 MW wind farm in Kozani and plans 515 MW of additional projects in Greece, reinforcing its investment strategy in the local market.
French group VALOREM has inaugurated a 27 MW wind farm in Kozani and plans 515 MW of additional projects in Greece, reinforcing its investment strategy in the local market.

Enel acquires 285 MW of wind capacity in the US through asset swap

Enel Green Power North America will increase its consolidated renewable capacity in the US through a wind asset swap agreement with Gulf Pacific Power, for a net consideration of $50mn.
Clean Energy Technologies announces a non-binding agreement with a European renewable energy developer, supported by a $4.4mn capital raise for a transaction estimated at $85mn.
Clean Energy Technologies announces a non-binding agreement with a European renewable energy developer, supported by a $4.4mn capital raise for a transaction estimated at $85mn.
Dogger Bank Wind Farm has completed the installation of its third offshore HVDC converter platform, marking a major step in the development of the world’s largest offshore wind farm under construction.
Dogger Bank Wind Farm has completed the installation of its third offshore HVDC converter platform, marking a major step in the development of the world’s largest offshore wind farm under construction.
Danish company Ørsted completed ahead of schedule the installation of 24 subsea foundations off Taiwan’s coast for its offshore wind farm Greater Changhua 2b, using a non-piling technology.
Danish company Ørsted completed ahead of schedule the installation of 24 subsea foundations off Taiwan’s coast for its offshore wind farm Greater Changhua 2b, using a non-piling technology.

Japan: New Measures to Revive Offshore Wind Following Costly Delays

Facing rising costs and industry hesitation, Tokyo is considering major regulatory adjustments to boost its ambitious offshore wind program, crucial for the country’s energy diversification.
Italy's Ministry of the Environment has approved the environmental impact assessment for the Barium Bay project, clearing the way for its participation in a 3.8-GW offshore tender.
Italy's Ministry of the Environment has approved the environmental impact assessment for the Barium Bay project, clearing the way for its participation in a 3.8-GW offshore tender.
French group VALOREM is launching a crowdlending campaign in Finland to finance early-stage development of a large-scale wind project in the municipality of Kiuruvesi.
French group VALOREM is launching a crowdlending campaign in Finland to finance early-stage development of a large-scale wind project in the municipality of Kiuruvesi.
After being suspended in April, the Trump administration lifted the freeze on Equinor’s offshore Empire Wind project, reviving a $2.5bn construction site expected to power 500,000 homes.
After being suspended in April, the Trump administration lifted the freeze on Equinor’s offshore Empire Wind project, reviving a $2.5bn construction site expected to power 500,000 homes.

Norway to award up to 500 MW of floating wind with direct subsidies

Norway has launched a floating wind tender at Utsira Nord, including a subsidy cap of NOK35bn ($3.37bn) despite economic pressures hampering the sector.
BVH1 s.e.n.c., a partnership between Boralex, Énergir and Hydro-Québec, has secured funding for a 400 MW wind project under construction on private land in the Seigneurie de Beaupré.
BVH1 s.e.n.c., a partnership between Boralex, Énergir and Hydro-Québec, has secured funding for a 400 MW wind project under construction on private land in the Seigneurie de Beaupré.
ENGIE North America plans to supply up to 300 MW of electricity to Cipher Mining for a Texas-based data centre through a local wind facility.
ENGIE North America plans to supply up to 300 MW of electricity to Cipher Mining for a Texas-based data centre through a local wind facility.
Boralex announces quarterly net earnings of CAD 41 million, marked by a 4% decrease in energy production, despite successfully commissioning its first wind farm in the United Kingdom.
Boralex announces quarterly net earnings of CAD 41 million, marked by a 4% decrease in energy production, despite successfully commissioning its first wind farm in the United Kingdom.

Advertising