DTEK energy holding sees great potential in the development of small modular reactors (SMRs) and the prospect of their construction on existing sites of coal and gas thermal power plants, Dmytro Sakharuk, executive director of the holding, says.

"We see this technology as a replacement for existing thermal power plants, because the country must phase out coal in 2035. We understand that this will happen. And in any case, Ukraine must provide itself with power. There will only be little wind and sun, because this capacities that require balancing, and there must be base generation that will operate regardless of weather conditions," he said during NV's annual event Ukraine and the world ahead 2024 on Thursday.

"The logic is very simple. We have plants where connectivity, grid and infrastructure are critical. And there are specialists there. And in five-seven years we need to develop projects to replace one technology with another. We see great potential in this," Sakharuk explained.

At the same time, DTEK's top manager noted that to implement such a project it would be necessary to attract project financing, as well as ensure investment protection.

"The first technologies that will already work will take five to seven years, and large companies are investing heavily in the development of this technology, for example, Hitachi, Rolls-Royce," Sakharuk added.