DTEK plans to prepare ready to build project for Poltava wind farm by Oct 2025 – CEO

The DTEK energy holding plans to bring the Poltava wind farm construction project with a capacity of 650 MW to the ready to build stage (RTB, the project is ready to begin construction) by October 2025 and is preparing to create an investment consortium for its implementation, said the holding's CEO, Maksym Timchenko.

"It will be ready to build by October. We are currently meeting with financial partners and companies. Our goal is to make an announcement of the Poltava wind farm project at the next WEF in Davos," Timchenko said in a comment to the Interfax-Ukraine agency on the sidelines of the Ukrainian Breakfast organized by the Victor Pinchuk Foundation on the sidelines of the World Economic Forum in Davos on Thursday.

He drew attention to the fact that the capacity of Poltava wind farm is 650 MW, and this is much more than the capacity of Tylihulska wind farm of 500 MW, the agreement on the completion of which DTEK concluded with the wind turbine manufacturer Vestas and which the parties announced in Davos on January 22.

"This will be a large project, so we, of course, need to create a consortium. Both financiers and expert partners. So we are moving very quickly," the DTEK CEO noted.

As reported, at the end of June 2024, DTEK Renewables Group received technical specifications for connecting the 650 MW Poltava wind farm to the power grid, which is an important condition for designing the power collection substation of the future wind farm. The planned start date for construction is 2025.

On January 22, 2025, DTEK announced that it had attracted EUR 370 million in loans from international banks, secured by guarantees from the state Export and Investment Fund of Denmark (EIFO), for the construction of the second stage of the 384 MW Tylihulska wind farm. 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 conclusion of a corresponding agreement at the WEF in Davos.

At a press conference in Davos, Timchenko noted that DTEK would immediately begin construction of the second stage of Tylihulska wind farm.

The cost of the project to increase the capacity of Tylihulska wind farm in Mykolaiv region from 114 MW to 500 MW is EUR450 million. DTEK is financing the remainder of the project cost (about EUR80 million) from its own funds.

After completion of construction, Tylihulska wind farm will be the largest in Eastern Europe. Its first stage of 114 MW, worth about EUR200 million, began operation in May 2023. At that time, it was announced that funds were being sought for further construction of the wind farm.