DTEK needs additional EUR 150 mln to restore 4 GW of generation for next winter – CEO

DTEK Group has estimated the cost of restoring its own generation damaged by the Russians at EUR 300 million and, in addition to using its own resources, requires an additional EUR 150 million in external financing to carry out work to prepare for next winter.

DTEK CEO Maksym Tymchenko announced the figures at the "Energy Warfare: How to Unplug Tyranny" roundtable, organized by the Kyiv Security Forum on the sidelines of the 62nd Munich Security Conference.

"For our company, we have defined a restoration budget for damaged assets of EUR 300 million by next year. Half of that amount we have already secured from our own resources. Now we are turning to colleagues and partners with a request to cover the remainder — approximately EUR 150 million — to restore 4,000 megawatts of capacity," he said.

The CEO added that the restored capacity would be sufficient for DTEK to get through the 2026-27 heating season.

Timchenko said restoring thermal power plants and combined heat and power plants is the fastest and least expensive path to preparing for the next winter, requiring lower investment.

"And we know how to do it. But equipment orders need to be placed right now," he said.

The CEO explained that from the moment funding is allocated to the moment equipment is connected, a minimum of 10 months pass, making May of this year a "red line" by which a clear financing and work execution plan must be in place to ensure completion before winter sets in.

"By May, we need full clarity at the government level: here is the list of equipment we need, here is the source of funding, and we are placing manufacturing orders… In the matter of restoring damaged substations and generation capacity, May is the deadline," he stressed.