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The largest private energy company in Ukraine said it will invest €1.2 billion ($1.4 billion) for construction of the 650-MW Poltavska wind farm in that country. DTEK, which won a POWER Top Plant award in 2023 for its Tyligulska Wind Power Plant, said subsidiary DTEK Renewables will install as many as 100 wind turbines for the project, which is sited in Poltova in central Ukraine. DTEK on April 22 said the wind farm will be one of the largest such onshore installations in Europe. The company on Wednesday said the investment “reflects DTEK’s broader role as the leading private investor in Ukraine.” Business publication NV recently named DTEK as Ukraine’s largest private investor since the country was invaded by Russia in February 2022. NV said DTEK has accounted for 22% of all investments made by the country’s largest companies across what is now a more than four-year-long war. DTEK calls Poltavska a “flagship project [that] will make a major contribution to strengthening energy security by replacing generation capacity damaged or destroyed during Russian attacks, while accelerating Ukraine’s transition to a cleaner, more decentralized power system.” The company in a press release wrote that “despite more than 220 Russian attacks on the company’s thermal power plants and significant damage to power grid infrastructure, DTEK has invested UAH 101.7 billion [€2.4 billion*] in Ukraine’s economy since 2022. This represents around 22% of the total UAH 454.7 billion [€9.7 billion] invested by more than 150 private companies included in the ranking.” (*Editor’s note: Euro-UAH rates are based on the rate at the time of investment.) DTEK’s annual investment in 2025 almost doubled to UAH 45.4 billion (€964 million, or $1.1 billion), compared with UAH 23 billion (€530 million, or $621.4 billion) in 2024, reflecting the further expansion of the company’s activities during the ongoing war. “Even in the face of constant attacks, we are restoring capacity, scaling renewable generation, and modernizing grids, because a resilient energy system is the foundation of Ukraine’s survival and future prosperity,” said DTEK CEO Maxim Timchenko. “With the full support of our shareholder, Rinat Akhmetov, we continue to invest during wartime, sending a clear signal: Ukraine remains attractive for investment today, and international partners have a real opportunity to help build a modern, European energy system.” DTEK said that between 2022 and 2025, the company directed investment toward supporting coal and gas production, developing decentralized generation, restoring generation facilities damaged by attacks, and modernizing power grids. In total, UAH 35 billion (€834 million, or $978 million) was invested in restoring thermal generation and supporting coal mining, UAH 28 billion (€630 million, or $738.8 million) in renewable energy, UAH 19.7 billion (€469 million,, or $600 million) in grid modernization and network repairs, and UAH 16 billion (€392 million,, or $459.7 million) in gas production. DTEK during the war has commissioned 114 MW of new wind capacity at the aforementioned Tyligulska wind farm in southern Ukraine, and is currently building an additional 384 MW, bringing total investment in the Tyligulska project to €650 million ($762.2 million). The company has also launched a 200-MW energy storage system, the country’s largest, and continues to plan additional renewable energy projects. —Darrell Proctor is a senior editor for POWER.
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