The selection process has been announced for supervisory boards of a number of energy companies, namely: LLC “Gas Transmission System Operator of Ukraine”, JSC “Ukrainian Distribution Networks”, Market Operator JSC, Centrenergo PJSC, Energy Company of Ukraine JSC, Energoatom NAEC, Ukrenergo PJSC, and Ukrhydroenergo PJSC, according to the Ministry of Economy, Environment, and Agriculture.
According to its announcement on Telegram on Monday, competitions have been announced for the following vacant positions in the Supervisory Board: OGTSU – two state representatives, URS – five members of the Supervisory Board (three independent and two state representatives), Market Operator – two state representatives, Centrenergo – five members of the supervisory board (three independent and two state representatives), EKU – one independent member, one state representative, Energoatom – three state representatives, Ukrenergo – one state representative, Ukrhydroenergo – one state representative.
Deadline for submission of documents: by 6 p.m. (Kyiv time) on December 21, 2025.
Key requirements for candidates include at least five years of experience in management positions in the public and/or private sector of the energy industry, higher education, proficiency in Ukrainian and English for Ukrainian citizens, or proficiency in English only for foreign citizens. In addition, among the requirements is the ability to devote at least 50 working days per year to performing duties.
It is noted that candidates may apply to several companies at the same time, which should be indicated separately in the application for participation in the selection process.
As reported, an appendix to Cabinet Resolution No. 1596 approved the procedure for selecting new members of supervisory boards in the energy sector, according to which a competition commission must be created. Its chairman is the head of the Ministry of Economy, Oleksiy Sobolev, who must approve the personal composition of the commission. The commission includes two representatives of the Ministry of Economy, one representative each from the Ministry of Finance, the Ministry of Justice, and the state agency that manages state property.
In the case of the largest state-owned companies, where the members of the supervisory board are selected by a nomination committee with the participation of foreign representatives, this procedure applies only to the selection of board members who are representatives of the state. But even in this case, the competition commission sends the selected candidates to the nomination committee.
In recent days, the head of the Ministry of Energy, Artem Nekrasov, dismissed all members of the Supervisory Board of the State Property Fund, two each from the Market Operator and the OGTSU, who had been appointed by orders of the ministry headed by Herman Galushchenko.
Thus, the Ministry of Energy dismissed all members of the Supervisory Board whose dismissal was provided for by Government Resolution No. 1596. There are no decisions by the State Property Fund on the dismissal of members of the Supervisory Board of companies under its management (we are talking about Centrenergo and Energy Company of Ukraine). At the same time, on December 9, the State Property Fund noted that due to changes in the procedure for selecting and appointing members of the supervisory boards of the state-owned joint-stock companies Energy Company of Ukraine and Centrenergo, the documents previously submitted by candidates cannot be accepted for consideration.
After the new selection procedure has been developed and approved, the Ministry of Economy of Ukraine will announce new competitions in accordance with the requirements of the law and will publish this information on its information platforms.
The government undertook to restructure the supervisory boards of energy companies after the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) made public the Midas case concerning large-scale corruption in the energy sector. In particular, according to Resolution No. 1596, the Cabinet of Ministers instructed to dismiss two members of the supervisory boards of OGTSU, EKU, and Market Operator, three members of Centrenergo, and five members of URS.
According to the online portal Energorforma, the Ministry of Energy also proposed that the Cabinet of Ministers add JSC Ukrainian Distribution Networks, JSC Market Operator, and SE Guaranteed Buyer to the list of enterprises important to the economy with a state share of 50% or more, whose managers and members of supervisory boards are appointed with the participation of a nomination committee.
The relevant draft resolution provides for amendments, in particular, to Resolution No. 777 of September 3, 2008, on the competitive selection of managers of state-owned enterprises.
UDP Renewables, an investment and development company in the field of renewable energy, in a consortium with the Qatari energy company Nebras Power, plans to invest about $ 250 million in “green” energy in Ukraine in 2021-2022, UDP Renewables CEO Serhiy Yevtushenko said.
“he next big step in the life of UDP Renewables and UFuture is the conclusion of an investment agreement with the largest energy company in Qatar, Nebras Power. At the first stage of our strategic partnership, Qataris together with us become shareholders of a large portfolio of operating solar power plants, and then the formation of a consortium for the construction of a whole portfolio of projects in wind energy,” Yevtushenko said on Facebook.
“He noted that the planned volume of investments of the consortium in 2021-2022 could reach $ 250 million, calling it “a good start for a long-term partnership.”
According to him, the signing of contracts by UDP Renewables and Nebras Power during the official visit of Ukrainian President Volodymyr Zelensky to the State of Qatar is proof of the intentions of both states to develop long-term cooperation.
In addition, Yevtushenko noted that with the conclusion of the investment agreement with Nebras Power, the Ukrainian team received another unique experience in structuring and closing a complex international transaction, which had been working on for two years. Everlegal law firm acted as a legal advisor to UDP Renewables.
DTEK has signed a memorandum of understanding and business cooperation with the Croatian energy company HEP (Hrvatska elektroprivreda d.d.).
According to the company’s press release, the document signed in Split provides for cooperation in the field of energy trade, the implementation of joint projects in foreign markets, including investment in energy assets.
The first step in the framework of DTEK’s cooperation with HEP is the test supply of electricity by subsidiary of DTEK Hungary Power Trade in the amount of up to 2,500 MWh in October this year. Next year, the volume of trade may increase to 1.3 million MWh.
According to DTEK Director General Maksym Tymchenko, access to foreign markets and international partnership are one of the vectors of the company’s long-term strategy.
“Today we are already cooperating with more than 20 European companies in the field of energy trading, which confirms the status of DTEK as a reliable international partner. The signing of the memorandum of cooperation with HEP, the leader of the energy sector in Croatia, is another step in expanding our presence in European energy markets. We are considering it as another step towards the rapprochement of Ukrainian and European energy systems, which is the key to strengthening Ukraine’s energy security,” he said.
“Our partnership will make a significant contribution to the achievement of Croatia’s strategic goals, such as diversifying energy supplies and enhancing Croatia’s energy security and stability. In the field of renewable energy, both DTEK and HEP have made significant progress over the past few years. In the field of “green” energy we see great opportunities for intensive cooperation,” chairman of the board at HEP Frane Barbaric said.
The operating company responsible for the oil and gas sectors in the structure of the DTEK energy holding – DTEK Oil & Gas – has become the holder of 24.99% shares in private joint-stock company Kyivoblenergo earlier belonged to VS Energy International Ukraine LLC.
According to a report of Kyivoblenergo posted in the information disclosure system of the National Commission for Securities and the Stock Market, VS Energy now holds 33.60788% shares in the company.
As reported, early January 2019, DTEK announced its intention to build up 68.2949% of shares in JSC Odesaoblenergo and 93.9978% in JSC Kyivoblenergo owned by VS Energy Group.
DTEK was established in 2005 to manage the energy assets of Rinat Akhmetov’s System Capital Management Group (SCM, Donetsk). The corporation performs functions of strategic management of the group’s enterprises, which constitute a vertically integrated chain of coal production and washing, production and sale of electricity.
VS Energy International Ukrainе owns shares in the following companies: Kyivoblenergo, Rivneoblenergo, Khersonoblenergo, Kirovohradoblenergo, Zhytomyroblenergo, Odesaoblenergo, Chernivtsioblenergo, Sevastopolenergo. Also, the company owns large stakes in Mykolaivoblenergo and Khmelnytskoblenergo.
According to the unified public register of companies, the ultimate beneficiaries of VS Energy International Ukraine are citizen of Germany Marina Yaroslavskaya, as well as citizens of Latvia Vilis Dambins, Arturs Altbergs and Valts Vigants. Ukrainian media and politicians also named several Russian businessmen as beneficiaries of the company.
National energy company Ukrenergo and the electricity transmission system operator SEPS (Slovakia) on October 2, 2018 agreed on building a new power line as an optimal solution for boosting power transmission between Ukraine and Slovakia, the press service of Ukrenergo has reported. “According to the agreements, a new 400 kV overhead line will be built, which will connect the existing 400 kV substations Mukachevo and Velke Kapusany in the single-circuit version with the possibility of further upgrading it to double-circuit in case of an increase in the volume of interstate flows,” the company said.
According to the press service, the project also envisages reconstruction of the 400 kV open switchgear at the Mukachevo substation. “In the next three or four years, at the Mukachevo 400 kV substation, it is planned to replace the existing 400/220 kV autotransformer (АТ-3) 400/220 kV (installed in 1964), as well as equipping the 400 kV complete switchgear with gas insulation,” Ukrenergo said.
Considering the condition of the existing 400 kV overhead line Mukachevo-Velke Kapusany, which has been operating since 1963, its modernization was recognized as inexpedient. The line will work until the launch of the new line.
The company recalled that this project is a candidate for projects of mutual interest (PMI), the list of which will be approved by the Council of Ministers of the Energy Community in the autumn of 2018.
BUILDING, ENERGY COMPANY, POWER LINE, POWER TRANSMISSION, SLOVAKIA'S, UKRENERGO
The Economic Development and Trade Ministry of Ukraine plans to start privatization of large state-owned enterprises (SOE) from the sale of Centrenergo, First Deputy Minister Maksym Nefyodov has said. “Centrenergo could be the first test case, and other facilities would follow it,” he said at a roundtable entitled “Ukraine on the Way of Privatization” in Kyiv on Wednesday.
Acting Head of the State Property Fund of Ukraine (SPF) Vitaliy Trubarov said that after Centrenergo, it is likely that other power supply companies would be privatized. He also said that the start of the privatization of large companies is planned for this autumn.
CENTRENERGO, ECONOMY MINISTRY, ENERGY COMPANY, PRIVATIZATION
