DTEK, the parent company of DTEK Renewables, a member of UWEA, announced the attraction of the largest volume of investment in the country’s energy sector – €450 million – for the completion of the Tyligulska wind farm. According to the terms of the deal, the banks will provide €370 million in loan funds, secured by guarantees of the state Export and Investment Fund of Denmark (EIFO), the larger part of which will be used to purchase 64 Vestas EnVentus V162-6.0 MW turbines. The remainder of the project’s cost will be financed from DTEK’s own funds.
This deal will make it possible to accelerate the construction of the station already this year, as the company has previously already laid the cable networks and the foundation. “The number of turbines of the expanded wind park will grow from 19 to 83, and the capacity will increase fourfold – from 114 to 500 MW. At full capacity, the Tyligulska wind farm will produce 1.7 TWh· of electricity per year – this is enough to provide electricity to 900,000 Ukrainian homes, which is equivalent to the energy needed to charge every smartphone in the EU for a year”, the company’s official press release states.
President and CEO of Vestas Henrik Andersen: “We are proud to expand our cooperation with DTEK and provide our technological solutions for the Tyligulska wind farm project, which will support Ukraine’s power system. I want to thank DTEK for its far-sighted leadership, as well as the authorities of Denmark, Ukraine and the EU for their strong support of this ambitious project, which will help to strengthen Ukraine’s energy security”.
After the construction of the second phase of the Tyligulska wind farm, this wind station will become the largest in Ukraine, for the implementation of which a total of €650 million has been attracted. The start of the installation of the wind turbines of the second phase of the Tyligulska wind farm is planned for the first half of 2025, and the 100% commissioning of the entire wind farm – for the end of 2026.
First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko at the World Economic Forum in Davos noted: “The implementation of the project to build the Tyligulska wind power plant, which is to become the largest in Eastern Europe, is a significant step on Ukraine’s path towards implementing the National Energy and Climate Plan, strengthening the state’s energy security and decarbonising the economy. This project is also supported by the Danish Export Credit Agency and the Government of Denmark. This is a powerful signal to all our partners and investors that investing in Ukraine’s recovery projects can and must be done today”.
Andriy Konechenkov, Chairman of the UWEA Board: “The attraction of the largest volume of investment in the history of Ukrainian energy for the completion of the Tyligulska wind farm is vivid evidence that world investors believe in the potential of Ukraine’s renewable energy, even in the most difficult times. This project will not only ensure the energy security of our state, but will also become a model for future initiatives to recover and decarbonise the economy. We are proud that the members of our association, such as DTEK Renewables and Vestas, are demonstrating leadership, proving that Ukraine can be a key player on the map of “green” energy of Europe”.
