Masdar, parent company Mubadala Investment Company, and DTEK, which is one of Ukraine’s largest private power producers, have signed a strategic agreement to explore potential clean energy investments in Ukraine.
Brief
The announcement came after an official visit by His Excellency Volodymyr Zelensky, President of Ukraine, to Masdar City, a sustainable urban development in Abu Dhabi, United Arab Emirates. Faris Al Mazrui, Head of Mubadala Investment Program in the Commonwealth of Independent States (CIS), Mohamed Jameel Al Ramahi, Chairman of the Board of Directors of Masdar, and Maxim Timchenko, Chairman of the Board of Directors of DTEK, signed during a ceremony in 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,” said Al Ramahi. “Our business model is based on building strong partnerships in the sectors and regions in which we operate, and we look forward to exploring potential areas of cooperation with DTEK in Ukraine. Using our combined expertise, Masdar and DTEK can best identify the path for the Ukrainian renewable energy sector. “
Way forward
The Ukrainian energy strategy aims to increase the share of renewable energies in the country’s energy mix to 25% by 2035. DTEK Renewables, DTEK’s renewable energy operator, is one of the largest green energy investors in Ukraine, GW solar and wind capacity, with a portfolio of 1.
The trilateral agreement was one of several agreements Mubadala had signed with various Ukrainian organizations, including three agreements with government agencies, to explore mutually beneficial investment opportunities.
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