Twenty-nine years ago, Ukraine chose to pursue its destiny as an independent nation. For almost three decades now, we, Ukraine’s citizens, progressed through different phases of Statehood growth, each with its own achievement and milestones. We not only should be proud to acknowledge and commend these achievements but also use them as a basis to shape our common future.
When we think about the positive path we are on, it is important to recall that we would not have the foundations for this success without the sacrifices and contributions of tens of thousands of Ukrainians: scientists, economists, educators, doctors and nurses, soldiers, politicians and civil servants, entrepreneurs, and businesspeople. Their devotion, energy, and efforts have propelled our country since independence. New reality proves that we have not only learned how to unite around the problems and challenges that we face but also to resolve them together as a nation.
Ukraine is undergoing rapid change and transforming itself into a confident, modern, and self-reliant country. In this process, businesses must be a reliable and supportive strategic partner for the State. Business isan important force of economic and social progress. The pace at which business develops directly impacts the pace of new technologies and innovation, which in turn largely determines the image of modern Ukraine, and its competitiveness on the world stage. While it is the State’s task to create an environment for progress and entrepreneurship, the private sector must harbor the responsibility to continue developing and implementing novel ideas, concepts, and innovations for a sustainable future.
At DTEK, our responsibility and aspiration is the transformation and modernization of Ukraine’s energy sector. Contemporary society demands sustainable, cost-efficient, and reliable energy. A chief objective of our investment strategy is to help secure Ukraine’s energy independence. We modernized the power units at our thermal plants and switched from anthracite to G-grade coal. We also made a decisive contribution to the advent of renewables as a new energy sector in our country. We developed and built wind and solar plants with a combined capacity of 1 GW. These plants annually generate over 2 billion kWh – the equivalent of Ukraine’s electricity consumption in one week.
To increase Ukraine’s energy independence, we developed domestic gas fields. A stable increase in gas production is only possible on the condition of intensive development at depths of more than 5-6 km. In 2016, DTEK succeeded in drilling the deepest productive well in Europe, reaching a depth of 6,750 meters. This was followed last year with several additional wells at more than 5,000 meters depth, drilled in record time – just 3.5 months – a feat achieved through the use of unique, innovative technologies.
DTEK is also making significant contributions to Ukraine’s GDP growth. Over the past 15 years, it has made over $23 billion in capital investment to improve working conditions, to modernize plant and equipment, and to increase productivity. In doing so, it has introduced new and advanced technologies to Ukraine. We are a leader in innovation. For example, this year we started the development of the first utility-size energy storage system in Ukraine. Like renewables, energy storage will further change the global energy landscape. It will be key for the growth of renewable energy sources, for distributed power generation and for energy efficiency. According to the International Energy Agency, more than a third of the world’s current electricity production capacity will reach its age limit and be decommissioned within the next 25 years. With sustainability put at the heart of both Ukraine’s 2035 Energy Strategy and the EU’s Green Deal, the next generation of energy production will be predominantly renewable.
DTEK’s achievements have been made possible thanks to its dedicated and talented workers, who share the company’s mission to bring reliable and affordable energy services into peoples’ homes, to set an example for the country of corporate excellence and transparent governance, and to contribute to the welfare and growth of Ukraine as a new and independent nation.
To be an innovation leader and to strengthen the skills of our employees, we founded Academy DTEK as a high-quality institution of learning and professional growth. Ukraine needs to continue innovating, requiring new skills, attitudes, and culture in order to implement changes on both the scale of our business and at the national level. That is why we opened up access to Academy DTEK for the whole of Ukraine, as an academic institution where representatives from businesses and the public sector can study alongside DTEK’s employees.
Any change requires unity, and Ukraine’s future depends on each of us; on our desire to take responsibility and work together. Society, government, and business must continue building relationships through dialogue and common values. At DTEK we are aware of our domestic responsibilities and have taken them on – continuing to provide ever-better sources of energy to power and brighten the future of Ukraine.
Maxim Timchenko is CEO of DTEK.
