Akhmetov's DTEK company seeks $350 million to repair damaged TPPs, excluding one in frontline Donbas

Rinat Akhmetov's DTEK energy holding will not restore the Kurakhove Thermal Power Plant yet. The others require $350 million, DTEK CEO Dmytro Sakharuk said on Monday at the Economic Pravda forum.

"We have six power plants [in the free territory]. We will not rebuild one of them yet, because it is close to the front, and there is constant shelling. Besides, the only way to supply coal there has been destroyed," Sakharuk said.

DTEK is one of the largest electricity producers in Ukraine. The company has eight thermal power plants, two of which – Zaporizhzhia (Enerhodar) and Luhansk (Schastya) – are located in the temporarily occupied territories, and one more – Kurakhove – in the front-line town of Kurakhove.

The damage caused is approximately estimated at $250 million, another $100 million is needed to carry out the works, said the head of DTEK.

For comparison, the company spent $110 million to recover from the winter bombings of 2022.

Last year, this amount was covered by its own funds, now DTEK is considering various ways of attracting funds.

For example, obtaining parts and spare parts from European energy facilities. Negotiations are underway with the governments of Germany, Romania, Bulgaria, Greece and Lithuania. According to Sakharuk, this method is the fastest solution for Ukraine, but it will not cover all needs.

In addition, the company can use funds from the Ukraine Energy Support Fund and international donors: USAID, JICA, etc.

Since March 2024, Russia has carried out three massive strikes on Ukraine's energy system, knocking out up to 7 GW of electricity generation capacity.

As a result of the strikes, the Dnipro HPP in Zaporizhzhia, Kharkiv CHPP-5, Zmiyiv and Trypillia TPP of the Centrenergo company, Burshtyn and Ladyzhyn TPP of the DTEK company were destroyed.

Energy Minister German Halushchenko said that Ukrainians should stock up on generators, power banks and prepare for any contingencies in the spring and summer.