DTEK Group and wind turbine manufacturer Vestas signed a memorandum of understanding to complete the construction of the largest wind power plant in Eastern Europe – Tylihulska Wind Farm with a total capacity of 500 megawatts (MW).

As DTEK reported on its website, the memorandum was signed at the UN climate conference COP28 in the presence of the European Commissioner for Energy Kadri Simson and Ukrainian Minister of Energy Herman Haluschenko (via video link).

The Danish company will supply wind turbines to Ukraine for the construction of the second stage of the Tylihulska wind farm, which will consist of 64 wind turbines (6 MW each) with a total capacity of 384 MW. The first stage with a capacity of 114 MW was put into operation in the spring of 2023.

According to the report, DTEK is ready to start construction of stage two in Q2 2024 and expects to complete it by the end of 2025. The installed wind turbines are expected to be gradually connected to the grid from the end of 2024.

Investments for phase two amount to EUR 450 million and are to be financed by the company and leading banks under state guarantees. The total investment in the project will exceed EUR 650 million.

Ultimately, the plant will be capable of generating about 1.7 TWh of electricity annually – enough for the needs of 900,000 households. It is expected the project will save 1.7 million tonnes of CO2 that would otherwise be emitted.

DTEK said that the Tylihulska wind farm project was developed in accordance with the company's long-term strategy to achieve carbon neutrality and integration into the single energy market of the European Union, approved by DTEK shareholder Rinat Akhmetov, and aligned to the broad development of distributed generation across Ukraine – a concept supported by President Volodymyr Zelenskyy.

"This is further evidence of Western investors' strong confidence in DTEK Group as responsible partner in Ukraine. Believing in our victory, we will not wait for the end of the war to attract Western or our own capital to create new infrastructure. Today, we are busy restoring not only what the occupier is destroying, but also building a new energy system and new power plants," DTEK CEO Maksym Timchenko, whose words are quoted in the release, said.

According to him, the Tylihulska wind farm will significantly increase the stability of the Ukrainian energy system, help strengthen the country's energy security, and enable Ukraine to become a decarbonisation leader that can act as an energy hub for Europe.

"We are very pleased to be expanding our partnership with DTEK again and build the Tylihulska project to support the reconstruction of Ukraine's energy sector and show that Ukraine is open for business. The project is becoming a reality under extraordinary circumstances, and we look forward to working with DTEK on the final steps towards financial closure. Infrastructure projects of this size in Ukraine currently require additional risk guarantees, and we believe supporting a project as ambitious as this can re-emphasise the EU's support to Ukraine," VESTAS CEO Henrik Andersen said.