Business news from Ukraine

DTEK OIL & GAS EXTRACTS 1.6 BCN OF GAS IN 2018

DTEK Oil & Gas extracted 1.649 billion cubic meters (bcm) of natural gas in 2018, which is almost the same as in 2017 (1.65 bcm), the company’s press service has reported.
The press service said that in general, the gas production target was met by 103%.
The company produced 51,500 tonnes of gas condensate, which is 4.6% less than in 2017 (54,000 tonnes).
At the end of the year, DTEK Oil & Gas drilled wells No. 25 and No. 61 at the Semyrenkivske field, finalized an investment project for the construction of a propane-refrigeration unit, which was launched at the Olefirivska gas pre-treatment unit in September 2018.
In addition, major overhauls were carried out to intensify production at the existing well stock, as well as a condensate stabilization gas utilization compressor at the Olefirivska gas pre-treatment unit and Semyrenkivske gas pre-treatment unit were equipped and launched, which make it possible to increase the environmental friendliness of the fossil fuel production process.
“In 2018, we confirmed our record high thanks to the increase in the efficiency of work with the existing fund and the introduction of modern technologies. We managed to produce an additional 100 million cubic meters of gas thanks to innovation,” DTEK Oil & Gas CEO Ihor Schurov said.

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DANISH MANUFACTURER OF WIND TURBINES AND DTEK TO BUILD WIND FARM IN ZAPORIZHIA REGION

DTEK has signed an agreement with the Danish manufacturer of wind turbines Vestas for building Orlivka wind power station (Prymorsky district, Zaporizhia region).
“The volume of investment in the project is about EUR140 million. We expect that the project will be completed by the end of 2019,” Maksym Tymchenko, DTEK’s director general, said during the signing of the contract.
The project, which envisages the construction of 26 wind turbines with a capacity of 3.8 MW each, is currently at the stage of completion of preparatory work. The main part of the construction work will begin in January 2019.
The capacity of the wind farm, which is the third project of the company in wind power, will provide electricity to about 200,000 households.
“We continue to implement our plans to increase the portfolio to 1,000 MW by the end of 2019, the total investment in these projects will exceed EUR 1 billion,” he said.

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DTEK NAFTOGAZ PLANS TO INCREASE GAS PRODUCTION IN 2019

DTEK Naftogaz LLC intends to increase natural gas production in 2019 by 10-12% (by 170-200 million cubic meters) compared to the expected production in 2018, to 1.8 billion cubic meters, manager on regulatory issues in the company Yulia Borzhemska has said during the XVI International Forum “Fuel and Energy Complex of Ukraine: Present and Future” in Kyiv.
According to the agency’s calculations, taking into account DTEK gas production in January-September 2018 in the amount of 1.242 billion cubic meters, the expected production in the current year will be 1.66 billion cubic meters.
“Next year, thanks to innovations, we will have a growth of 10-12%,” she said.
As reported, DTEK Naftogaz plans to achieve production of 2 billion cubic meters of natural gas until 2023.
DTEK Naftogaz is an operating company responsible for the oil and gas sector within DTEK energy holding. The assets portfolio of DTEK Naftogaz includes Naftogazvydobuvannia and Naftogazrozrobka, which carry out hydrocarbon exploration and production on three license areas in Poltava and Kharkiv regions.

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CHINESE TRINA SOLAR SUPPLIES 123 MW MODULES TO DTEK FOR SOLAR PLANT

China’s Trina Solar Limited has announced the delivery of photovoltaic modules with a total capacity of 123 MW for a solar power plant project, implemented by Ukraine’s largest private energy holding DTEK. “The construction of a power plant, the contractor of which is China Machinery Engineering Corporation (CMEC), is to be completed in early 2019, and in March the facility will be connected to the national power system,” the Chinese company said in a statement.
Trina Solar said that the design capacity of the station, located near Nikopol in Dnipropetrovsk region, is 246 MW.
“After the completion of construction and installation work, this facility will become the largest solar farm in the region, as well as the largest exclusively solar power plant in Europe,” the release says.
According to the report, the facility will be able to generate 280 million kWh of solar energy per year, which will allow it becoming one of the three leading suppliers of similar energy resources in Europe. The plant will be able to fully meet the needs of 100,000 households in Ukraine and reduce carbon dioxide emissions by more than 300,000 tonnes per year.
Trina Solar, founded in 1997, is one of the world’s leading suppliers of integrated solutions for solar energy.

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DTEK RAISES EUR 90 MLN FROM GERMAN BANKS TO BUILD 100 MW WIND FARM

DTEK Renewables has raised EUR 90 million for construction of the first phase of Prymorska wind farm with a capacity of 100 MW in Zaporizhia region, the press service of DTEK Energy Holding reported. The press service said that the loan for the construction of the first stage of the wind farm was issued by a consortium of German banks (Bayerische Landesbank, KfW IPEX-Bank, Bremer Kreditbank and others) with risk coverage provided by German export credit agency (ECA) Euler Hermes. The loan term is 10 years after the technical commissioning of the plant.
DTEK reminded that this is the third financing agreement signed with European financial institutions for the construction of the company’s wind energy projects. For the implementation of the first wind farm project in the company’s portfolio, the Botiyevska Wind Farm, DTEK raised loans in the total amount of EUR 235 million from Germany’s LandesBank Berlin (Berliner Sparkasse) in 2012-2014.
DTEK CEO Maksym Tymchenko said that in recent years, the company raised EUR 335 million from German banks for the construction of new wind farms. This April, DTEK and Chinese company CMEC signed an agreement valued at EUR 134 million to build Nikopol solar power plant (200 MW) with the total cost of the project of EUR 235 million.
“Such sustainable interest from international investors in renewable generation in Ukraine gives us confidence in the implementation of our strategic plans – to have 1,000 MW of ‘green’ facilities in the portfolio by 2020,” he said.

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GENERAL ELECTRIC SIGNS A CONTRACT WITH DTEK

General Electric (GE) has signed a contract with DTEK to supply high-voltage equipment for the 150 kV central power distribution station and two 150/35/10 kV substations, which would ensure the transmission of electricity from the first stage of Prymorska wind farm (Zaporizhia region) to the Ukrainian power grid, the press service of the Ukrainian energy holding has reported.
“The innovative technology “digital substation” will be used at the wind farm… The digital substation technology allows making real-time assessment of the state of equipment and automatically reacting to deterioration or malfunctions. This relaxes maintenance of the substation, implementing it as soon as the event occurs and without scheduling repairs,” DTEK said.
As reported, GE Renewable Energy will supply 26 wind turbines with a capacity of 3 MW each for the first stage of Prymorska wind farm and maintain them after the delivery. The turbines will be delivered to Ukraine and installed in 2018. The first stage would be launched in 2019.
DTEK was established in 2005 to manage the energy assets of System Capital Management Group (SCM, Donetsk) belonging to Rinat Akhmetov.

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