A Fresh Vision for Ukraine’s Energy Sector
As Ukraine’s government works to shape a new future for the country’s energy sector, so too do its businesses. Leading energy firm DTEK is committing significant resources to improve sustainability, efficiency and environmental performance.
Established in 2005, DTEK is one of Ukraine’s flagship energy firms and has quite literally fueled the country’s growth as the operator of its deepest gas-producing wells and controller of 25 percent of its electricity generation capacity. Its CEO, Maxim Timchenko, has now set a new vision for the company, and by extension, Ukraine’s energy sector at large, for a future based on digitalization, decentralization and decarbonization.
DTEK is no stranger to leading change. At the World Economic Forum in 2012, it joined 20 of the world’s largest energy companies in developing a set of principles outlining cooperation between the energy industry and society. Today, the company has become the country’s main investor in renewables and the largest wind power producer, partnering with GE Renewable Energy to bring in state-of-the-art turbines, and thus driving the beginnings of a green energy revolution in Ukraine.
What is your outlook for the energy sector in Ukraine?
The energy sector in Ukraine is the most underdeveloped and promising market in Central Europe; there are huge requirements for investment and huge opportunities. We are a top country in terms of gas reserves, and we have 100 years’ worth of coal deposits which can be used in an environmentally-friendly way with new technologies. With a good regulatory environment and stable political situation, we will have foreign investment and technology, and Ukraine will increase its energy security.