The energy holding DTEK plans to bring the construction project of the Poltava Wind Power Plant (WPP) with a capacity of 650 MW to the ready to build (RTB) stage by October 2025 and is preparing to establish an investment consortium for its implementation, announced the holding's CEO, Maxim Timchenko.
"It will be ready to build around October. We are currently meeting with financial partners and companies. Our goal is to announce the Poltava WPP project at the next WEF in Davos," Timchenko said in a comment to the Interfax-Ukraine agency during the Ukrainian breakfast organized by the Victor Pinchuk Foundation at the World Economic Forum in Davos on Thursday.
He noted that the capacity of the Poltava WPP is 650 MW, which is significantly higher than the capacity of the Tiligul WPP at 500 MW, for which DTEK signed an agreement with the wind turbine manufacturer Vestas, an announcement made in Davos on January 22.
"This will be a large project, so we definitely need to form a consortium. Both financiers and expert partners. So we are moving very quickly," emphasized DTEK's CEO.
As reported, at the end of June 2024, DTEK Renewables Group received technical conditions for connecting the 650 MW Poltava WPP to the power grid, which is a crucial requirement for designing the future WPP's collection substation. The planned construction start period is 2025.
On January 22, 2025, DTEK announced that it secured EUR 370 million in loans from international banks, backed by guarantees from the Danish Export and Investment Fund (EIFO), for building the second phase of the Tiligul WPP with a capacity of 384 MW. Most of these funds will be used to finance Vestas EnVentus V162-6.0 MW turbines. A total of 64 wind turbines will be purchased. The Danish wind turbine manufacturer Vestas and DTEK announced the signing of the relevant agreement at the WEF in Davos.
At a press conference in Davos, Timchenko noted that DTEK is immediately starting the construction of the second phase of the Tiligul WPP.
The cost of the project to increase the capacity of the Tiligul WPP in the Mykolaiv region from 114 MW to 500 MW is EUR 450 million. DTEK is financing the remaining project costs (approximately EUR 80 million) using its own funds.
Upon completion, the Tiligul WPP will be the largest in Eastern Europe. Its first phase of 114 MW, costing around EUR 200 million, began operations in May 2023. At that time, funding for further construction of the WPP was announced.