DTEK and Siemens Energy signed a memorandum of understanding for cooperation in the energy sector

DTEK and Siemens Energy signed a memorandum of understanding for cooperation in the energy sector


DTEK and Siemens Energy signed a memorandum of understanding, in which they expressed their shared interest and the importance of developing new energy infrastructure projects contributing to the modernization and transformation of Ukraine’s energy sector and the strengthening of DTEK’s business integration with EU infrastructure and markets.

The corresponding document was signed on the sidelines of the conference "Energy Sector in Ukraine: Current Events and Future Business Opportunities" organized by the German Eastern Business Association (Ost-Ausschuss der Deutschen Wirtschaft), which took place on September 6 in Berlin.

On behalf of DTEK, the memorandum was signed by its CEO Maksim Timchenko, on behalf of Siemens Energy by its Senior Vice President of Hub Europe, Ariel Porat.

“DTEK has been successfully cooperating with Siemens since 2007. Over this time period, a number of joint projects have been implemented in various DTEK businesses, in particular, DTEK Renewables, DTEK Grids, DTEK Oil and Gas and DTEK Energy. I am confident that the signing of the Memorandum of Understanding will be a step towards an even greater number of mutual projects that will support global trends in decarbonisation and clean energy production, as well as create new business models for effective cooperation for a sustainable future”, said M. Timchenko.

He stressed that today the world is on the path of large-scale changes that are necessary to confront climate challenges. According to the CEO of DTEK, effective response to climate change is a global responsibility and the only way to solve these problems is to unite efforts through partnerships between states, businesses and communities.

Maksim Timchenko also noted that DTEK has embarked on a transformation path that coincides with global trends. “Decarbonisation has become a necessity that no company or country can ignore today. DTEK adopted a New strategy until 2030, which was developed considering his trend. Our goal — achieving carbon neutrality by 2040”, said DTEK's CEO.

On the way to reaching this goal, the company uses the opportunities of partnership and international cooperation, introduces innovations and the latest high technologies, projects to create new green generating capacities. This is DTEK's contribution to the transformation of the Ukrainian energy sector in line with the Green Deal goals and integration into the energy system of continental Europe (ENTSO-E).

The German Eastern Business Association (Ost-Ausschuss der Deutschen Wirtschaft) is a regional initiative of the German economy for 29 countries of Central, Eastern and South-Eastern Europe, the South Caucasus and Central Asia. In close cooperation with the leadership of the partner countries and Germany, the association is working to remove trade barriers and improve the economic framework conditions in the region. The Eastern Business Association includes about 350 companies - from medium-sized family firms to companies listed in the German DAX stock index.

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