Ukraine's DTEK to carry out $145 mln smart grid project
MOSCOW. June 23 (Interfax) - Ukrainian energy group DTEK plans to overhaul energy infrastructure and carry out a smart grid project in Kiev region at a cost of $145 million, Ukrainian media reported, citing the company's Telegram channel.
The project was presented at the London conference on Ukraine's recovery, DTEK CEO Maxim Timchenko said.
This investment will give the Kiev region world-class smart grid infrastructure that will facilitate Ukraine's energy transition, integrating renewable generation and preparing Ukraine to become a major clean energy hub for the European Union, Timchenko said.
The company plans to test the new concept in a three-year pilot project in Irpin-Bucha-Borodyanka area.
The larger grid reconstruction plan will be carried out over 10 years and will include construction of 20,000 km of new overhead and underground cables, 250 substations and 6,000 transformers and the installation of almost 1 million smart meters.
Timchenko also called for investment in the construction of the second phase of the Tiligul wind farm, the cost of which is estimated at 450 million euros.
DTEK, which launched the first phase of the wind farm with capacity of 114 MW in May, is ready to continue construction on the second 384-MW phase, for which it hopes to raise 70% of the financing.
Some are debating whether the company can afford to invest 100 million euros and continue building what it promised and remain the leader in renewable energy and decarbonization, but DTEK has decided to continue, Timchenko said, adding that this will be one of the largest wind farms not only in Ukraine but also in Eastern Europe.
The company has 384 MW of capacity ready for construction and is asking for capital, he said. DTEK promises that it will be built in 18 months, which should be a record for a project on this scale, but it needs 450 million euros to do this, Timchenko said.
The time has come for Ukraine's financial institutions, donors and other interested parties to participate in this project, Timchenko said.