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Masdar to explore renewable energy potential in Ukraine

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Energy Global,

Masdar, parent company Mubadala Investment Company, and DTEK, one of Ukraine’s largest private power producers, have signed a strategic agreement to explore potential clean energy investments in Ukraine.

The announcement was made following an official visit by His Excellency Volodymyr Zelensky, President of Ukraine, to Masdar City, a sustainable urban development in Abu Dhabi, UAE. Faris Al Mazrui, Head of Mubadala’s investment programme in the Commonwealth of Independent States (CIS), Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Maxim Timchenko, Chief Executive Officer of DTEK, signed a Memorandum of Understanding (MoU) during a ceremony at Masdar City.

“As a global leader in renewable energy, with a presence in more than 30 countries, Masdar welcomes this opportunity to help Ukraine achieve its clean energy goals,” Al Ramahi said. “Our business model is based on forging strong partnerships in the sectors and geographies in which we operate, and we look forward to exploring potential areas of collaboration with DTEK in Ukraine. By leveraging our combined expertise, Masdar and DTEK will be able to best identify the path forward for Ukraine’s renewable energy sector.”

Ukraine’s Energy Strategy aims to increase the share of renewables in the country’s energy mix to 25% by 2035. DTEK Renewables, the operating company managing DTEK’s renewable energy assets, is one of the largest investors in green energy in Ukraine, with a portfolio of 1 GW of solar and wind capacities.

The trilateral MoU was one of a number of such agreements Mubadala signed with various Ukrainian organisations, including three MoUs with government entities to explore mutually beneficial investment opportunities.



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