DTEK, the largest private energy holding in Ukraine, actively supports the speedy transition to an auction system while encouraging the development of renewable energy sources and compete under these new conditions, Maksym Tymchenko, the director general of the energy holding, has told Interfax-Ukraine in Davos.

"We are not only not scared [by the transition to the auction system], but we actively support it and promote the relevant law at the expert level. The transition to auctions is what should happen in Ukraine in the near future, and we are ready to compete, however, as in other businesses," he said on the sidelines of the Davos Ukrainian Breakfast, organized by the Victor Pinchuk Foundation.

Tymchenko expressed hope that the parliament would soon adopt at second reading the relevant law so that Ukraine could comply with international trends not only at the level of power generation technologies, but also in the regulatory environment.

The head of DTEK noted that the company since its inception has supported the world energy trends and has long ago announced a strategic decision to actively increase its presence in alternative energy, starting back in 2010 the first project in this area - Botiyevska Wind Power Plant with a capacity of 200 MW. According to him, by the end of this year it is planned to form a portfolio of assets in renewable energy at the level of 1 GW, of which 500 MW is wind power and 500 MW is solar power.