Business news from Ukraine

DTEK FINISHES CONSTRUCTION OF PRYMORSKA WIND FARM

DTEK has completed construction of Prymorska wind farm (Botiyeve, Zaporizhia region) with a capacity of 200 MW, an Interfax-Ukraine correspondent has reported.
DTEK CEO Maksym Tymchenko said that investment in the project reached EUR 321 million, including EUR 180 million are funds borrowed from German banks and secured by foreign export-credit agencies.
Prymorska wind farm will annually generate 700 million kWh of electricity.
The plant consists of two phases 100 MW each and has 52 wind turbines made by General Electric.
During the construction of the second phase Ukrainian contractors received orders for EUR 30 million.
DTEK was established in 2005 to manage the energy assets of the System Capital Management Group (SCM, Donetsk) of Rinat Akhmetov. The functions of strategic management of the enterprises of the group that make up the vertically integrated chain for the extraction and enrichment of coal, production and sale of electricity were delegated the holding.

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DTEK RENEWABLES COMMISSIONS SOLAR PLANT IN DNIPROPETROVSK REGION

DTEK Renewables has commissioned the 240 MW Pokrovska solar plant (Nikopol district, Dnipropetrovsk region).
The press service of the company said Pokrovska solar plant is a project implemented by Ukrainian companies and specialists. Some 16 enterprises took part in the construction, which received orders worth EUR48 million.
Pokrovska solar plant consists of 840,000 solar panels manufactured by Risen (China). It is expected that each year the plant will produce 400 million kWh of “green” electricity, which is enough to provide 200,000 households.
“Pokrovska solar plant is the company’s third project in solar energy, investment in which amounted to EUR193 million,” DTEK CEO Maksym Tymchenko said.
He said that the payback period in current tariffs is estimated at six to six and a half years.
In addition, he said that DTEK plans to implement the project for building the Energy Storage system either at Pokrovska or Nikopol solar station.

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UKRAINIAN DTEK TO DEAL WITH CROATIAN ENERGY COMPANY HEP

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.

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COALMINES OF DTEK ENERGY CUT PRODUCTION BY 6.8%

Coalmines of DTEK Energy in January-September 2019 produced 16.5 million tonnes of run-of-mine (ROM) coal, which is 6.8% less than in January-September 2018 (UAH 17.7 million tonnes).
According to the company’s press release, by the end of this year, DTEK Energy’s mines plan to produce a total of more than 23 million tonnes of coal.
“Successfully passing the heating period is task number one for all energy companies. DTEK, as a representative of thermal generation, accumulates sufficient coal reserves in the warehouses of thermal power plants before the start of winter. Our priority is domestic fuel. DTEK Energy’s mines produce 1.8 million tonnes per month. It is possible to achieve such indicators thanks to the hard work of our miners and constant investments in coal mining,” DTEK Energo CEO Dmytro Sakharuk said.

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UKRAINIAN DTEK BUYS 73,000 TONNES OF COLUMBIAN COAL FOR THERMAL POWER PLANTS

DTEK Energo has bought 73,000 tonnes of coal from a gas group from Columbia.
According to the company’s press release, in Yuzhny port in Odesa region W-Ace dry bulk carrier has already been disembarked, after which coal will move to DTEK thermal power plants (TPP).
As DTEK Energo Director General Dmytro Sakharuk said, Ukraine will face peak loads in October, so for the successful completion of the heating season the holding is steadily increasing coal reserves in the warehouses of its TPPs.
In total, DTEK contracted five bulk carriers with coal from Columbia. Three have already arrived in Ukraine, one more is expected next week, and the last will arrive in October.
As reported, as of September 20 DTEK already prepared 756,000 tonnes of coal in the warehouses of its TPPs.

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DTEK OIL&GAS ACCUMULATES MAJORITY STOCK HOLDING OF DTEK KYIV ELECTROMEREZHI

DTEK Oil&Gas B.V. has acquired shares of PrJSC DTEK Kyiv Electromerezhi in an amount of 4.000395% of a charter capital and jointly with the affiliated persons became an owner of a majority stock holding of this enterprise in an amount of 97.936969% of a charter capital or 106.129 million shares.
“The highest share price at which the company or its affiliates acquired shares of the company during the 12 months, preceding the acquisition date of the majority stock holding taking into account the date of acquisition, is UAH 9.31 (at a face value of UAH 0.2),” DTEK Oil&Gas B.V. reported.
According to the new ownership structure, DTEK B.V. owns 72.934662%, Ornex Limited – 20.999605%, DTEK Oil & Gas B.V. – 4,000395% and Oil & Gas Overseas Trading B.V. – 0.002307%.
DTEK Kyiv Electromerezhi is a part of DTEK Networks (established in 2018) that deals with electricity distribution and that includes another six enterprises: DTEK Dnipro Grids, DTEK Donetsk Grids, DTEK Grid Transmission Systems, and DTEK ENE Energovuhillia, Kyivoblenergo and Odesaoblenergo. The company provides services for 5.4 million housing entities and 150,000 enterprises.

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