DTEK is interested in purchasing new power grid assets in Ukraine and EU countries, CEO of the company Maksym Timchenko has said.
“I believe that all DTEK’s business, in one way or another, are related to how successfully DTEK Grids will develop […] In our long-term strategy, we are talking about expanding the portfolio of assets, we are ready to further participate in the acquisition of grid companies both in Ukraine and beyond,” he said when presenting DTEK’s new strategy until 2030.
As reported, the operating holding DTEK Grids is engaged in the distribution of electricity in Kyiv city, Dnipropetrovsk, Donetsk, Kyiv and Odesa regions.
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.
The Antimonopoly Committee of Ukraine (AMCU) on Tuesday decided to impose a fine of UAH 175.9 million on JSC DTEK Zakhidenergo and UAH 99.2 million on D.Trading LLC for abuse of monopoly position on the Burshtyn Energy Island in July-October 2019.
For its part, DTEK considers the decision taken as biased and unfounded.
“During the consideration of the case, the committee did not conduct a proper study of the functioning of the electricity market, the evidence and expert opinions provided were ignored,” DTEK said in a statement following the decision.
DTEK Renewables B.V., which manages DTEK’s renewable energy assets, received UAH 440 million in net profit in the first half of 2020, the company said.
According to the report, with revenue of UAH 4.103 billion, the company’s gross profit amounted to UAH 2.978 billion, operating profit some UAH 2.851 billion.
The supplier of electricity and energy saving solutions YASNO (DTEK) will also sell natural gas.
According to the company, it has already received a package of licenses for the supply of natural gas and is negotiating the conclusion of the first gas contracts with legal clients.
YASNO is also preparing to supply natural gas to households.
“We understand how convenient and profitable it is for clients to have a single supplier that simultaneously provides electricity, gas, and also helps to save money thanks to energy saving solutions and products. This is a modern European practice that YASNO will implement in Ukraine in combination with a high level of service,” Business Development Director of YASNO Oleksandr Onyshchenko said.
DTEK has become the first company in Ukraine to join the Hydrogen Europe Association, which unites leaders in the field of hydrogen technology in Europe, the energy holding’s press service said on July 11.
According to Chief Innovation Officer at DTEK Emanuele Volpe, this membership will enable the company to build a network of direct contacts with international partners interested in developing the hydrogen economy both in Ukraine and around the world.
“European and local energy systems are transforming. Renewable energy sources place a heavy burden on the existing network, as carbon energy ceases to be sustainable ecologically and economically. The use of hydrogen technologies opens up opportunities for both the decarbonization of the main sectors of the economy, and the development of a new sector of the economy which will create additional job places,” he said.
In 2020, DTEK established a project team to study the possibilities of using hydrogen in the Ukrainian economy. The team is currently conducting an in-depth feasibility study on the use of hydrogen in the fields of transport, energy and industry, the Chief Innovation Officer said.
“In the next couple of years DTEK plans to organize a pilot project using hydrogen to further develop the technology in the company and Ukraine as a whole,” Volpe said.
DTEK Oil & Gas LLC, which is responsible for the oil and gas business in the structure of DTEK energy holding, in May 2020 reached a record daily level of natural gas production both for the company and private companies in the amount of 5 million cubic meters (mcm), the company said in a press release.
“In May, DTEK Oil&Gas reached the daily natural gas production level of 5 million cubic meters. This figure was achieved for the first time in the history of the company and the entire private gas production of Ukraine,” the report said.
The daily maximum update was achieved through the implementation of infrastructure projects, a deep drilling program with the commissioning of new high-yield wells at Semirenkivske and Machukhske fields, as well as through measures to stimulate wells in the existing fund, the press release said.
“Despite the unstable economic situation in the country and the difficult conditions in the gas production sector due to record low gas prices, we are working hard to implement a strategy to increase natural gas production,” DTEK Oil & Gas CEO Ihor Schurov said.
As reported, in 2019 the company increased natural gas production by 0.66%, to 1.66 billion cubic meters.
DTEK Oil & Gas is an operating company responsible for the oil and gas sector in the structure of DTEK Group.