Authorization
DTEK, the parent company of DTEK Renewables, UWEA’s member, has announced the largest-ever investment in Ukraine’s energy sector—€450 million—to complete the Tyligulska Wind Farm. Under the agreement, banks will provide €370 million in loans, guaranteed by Denmark’s Export and Investment Fund (EIFO), the majority of which will finance the purchase of 64 Vestas EnVentus V162-6.0 MW turbines. The remaining project cost will be covered by DTEK’s own funds.
This agreement accelerates construction, as the company has already installed cable networks and foundations. The number of turbines in the expanded wind farm will increase from 19 to 83, and its capacity will quadruple—from 114 MW to 500 MW. Once fully operational, the Tyligulska Wind Farm will generate 1.7 TWh of electricity annually, enough to power 900,000 Ukrainian homes—equivalent to the energy needed to charge every smartphone in the EU for a year, according to the company’s press release.
Henrik Andersen, President and CEO of Vestas, remarked: “We are proud to strengthen our collaboration with DTEK by providing cutting-edge solutions for the Tyligulska Wind Farm, which will bolster Ukraine’s energy system. I want to thank DTEK for their visionary leadership, as well as the Danish, Ukrainian, and EU authorities for their strong support of this ambitious project, which will enhance Ukraine’s energy security.”
Upon completion of its second phase, the Tyligulska Wind Farm will become Ukraine’s largest, with total investments reaching €650 million. Turbine installation for the second phase is slated to begin in the first half of 2025, with the wind farm fully operational by late 2026.
At the World Economic Forum in Davos, Ukraine’s First Deputy Prime Minister and Minister of Economy, Yuliia Svyrydenko, stated: “The construction of the Tyligulska Wind Farm, set to be the largest in Eastern Europe, is a significant milestone in Ukraine’s National Energy and Climate Plan, strengthening energy security and advancing economic decarbonization. Supported by the Danish Export Credit Agency and the Danish Government, this project sends a powerful message to our partners and investors: Ukraine’s recovery projects are open for investment today.”
Andriy Konechenkov, Chairman of the UWEA Board, added: “Securing the largest energy-sector investment in Ukraine’s history for the Tyligulska Wind Farm is a testament to global investors’ confidence in Ukraine’s renewable energy potential, even in challenging times. This project will not only bolster the nation’s energy security but also serve as a model for future recovery and decarbonization initiatives. We take pride in our members, such as DTEK Renewables and Vestas, for demonstrating leadership and proving that Ukraine can become a key player on Europe’s green energy map.”
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