DTEK signs a trilateral memorandum with a UAE investment fund

DTEK signs a trilateral memorandum with a UAE investment fund

15.02.2021

DTEK's CEO Maxim Timchenko has signed a trilateral MoU with Masdar, a subsidiary of Mubadala Investment Company that manages a $232 billion worth assets and investment portfolio in the UAE and abroad. 

This Memorandum of Understanding underpins the development of international partnerships under DTEK's New Strategy 2030. According to the MoU, Mubadala, Masdar and DTEK will look into the joint investment opportunities in renewable energy projects in Ukraine and internationally. 

"DTEK has set out an ambition to become carbon-neutral by 2040. We have already built the wind and solar power plants with 1 GW capacity, thus contributing to the global fight with climate change. Today, together with our partners Mubadala and Masdar, we are taking the next step towards this goal," said Maxim Timchenko, DTEK's Chief Executive Officer. "We welcome the international cooperation and partnership as a groundwork for future success. It is an honour and responsibility for our company to be a gateway for the international investments in Ukraine." 

"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," said Masdar CEO Mohamed Jameel Al Ramahi. "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."

The Memorandum was signed during the official state visit of the President of Ukraine Volodymyr Zelensky and the First Lady of Ukraine Olena Zelenska to the UAE. 

Further MoUs aiming to explore mutually beneficial investment opportunities were signed with the Ukrainian ministries, as well as public and private companies. 

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