DTEK head at URC2023 urges businesses to invest in construction of second stage of Tylihulska WPP worth EUR 450 mln
After the launch of the first phase of Tylihulska wind farm with a capacity of 114 MW (Mykolaiv region) in May this year, DTEK Energy Holding is ready to continue construction of its second phase for 384 MW, for which it intends to raise 70% of the capital out of the required EUR 450 million, its CEO Maksym Timchenko has said.
"It was important for us to bring a concrete project to this conference. Some of us here have a long internal discussion about whether we can afford to invest EUR 100 million and continue to build what we promised and remain a leader in the renewable energy sector and in decarbonization. We decided to continue. This will be one of the largest wind parks not only in Ukraine, but also in Eastern Europe," Timchenko said during a business table on reforming the Ukrainian energy sector as part of URC2023.
According to him, for the construction of 384 MW of wind farm capacity, EUR 450 million is needed, 30% of which DTEK is ready to invest itself.
"Here we are asking for capital. So we are saying that we have 384 MW of capacity ready to build. We promise that they can be built in 18 months, which should be a record time for any project of this size. But for this we need EUR 450 million. And I think that the time has come for our financial institutions, for our donors and for other interested parties to participate in this project," the DTEK CEO said.
At the same time, Timchenko emphasized that the construction of the first stage of Tylihulska wind farm by DTEK during the war is "the main argument for all investors who are invited to come to Ukraine," that we can build and commission facilities.
According to him, this is a contribution not only to decarbonization, but also to energy independence, since it is obvious that it is rather difficult for Russian troops to destroy 19 turbines at once (components of the first stage).
Speaking in general about the plans presented by Ukraine for the development of the energy sector, Timchenko noted: "If at least 50% of the plans are implemented, Ukraine can become the leading supplier of green energy in the world."
At the same time, he expressed confidence that these plans would not be realized without attracting private capital.
