Ukraine's largest private energy company to receive US$112 million from US and European Commission

DTEK, the largest private energy company in Ukraine, will receive €62.8 million from the European Commission and US$46.1 million from the US government to rebuild the facilities destroyed by Russian attacks and prepare power plants for the upcoming winter.

Source: press service for DTEK

Details: "The US Government and the European Commission are donating €106.6 million (US$112 million) in equipment and building materials to DTEK, providing vital support to an energy system shattered by ongoing Russian missile and drone attacks – the latest on 17 November," the press service said.

The European Commission is providing €62.8 million for equipment and supplies to restore 1.8 GW of energy capacity and safeguard power plant equipment against snow, rain, and freezing temperatures. This initiative is expected to ensure a stable and reliable energy supply for over 2 million Ukrainians.

The US government is allocating US$46.1 million to acquire control systems and dozens of new transformers, which are essential for maintaining the power supply to millions of people.

Through the United States Agency for International Development (USAID), the US has provided DTEK with essential equipment for power grid repair teams, particularly aerial work platforms, pick-up trucks, transformers and electrical cables, DTEK said.

Background:

• On 17 November, Russian missile strikes hit three of the five operating thermal power plants owned by Ukrainian energy giant DTEK, and one of them is still out of commission. Distribution stations were also targeted.
• The European Bank for Reconstruction and Development (EBRD) categorically stated that it would not provide financing to Ukrainian companies controlled by oligarchs, including Ukrainian energy company DTEK.

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