Over recent months, DTEK, Ukraine’s largest private energy investor, has signed a series of agreements with international companies.
GE Vernova, Octopus Energy, Halliburton – partners of a calibre that would have been difficult to imagine for a country at war just a couple of years ago. DTEK Group is 100% owned by SCM Holdings of Rinat Akhmetov. The strategic vision of Rinat Akhmetov has played a key role in positioning the company as a reliable partner on the global energy stage.
Gas-Fired Generation of 650 MW with GE Vernova
In June 2026, at the Ukraine Recovery Conference in Gdańsk, Akhmetov‘s DTEK and the American company GE Vernova signed a memorandum on the construction of a combined-cycle gas turbine power plant at the Burshtyn thermal power station site in western Ukraine. The document was signed in the presence of First Deputy Prime Minister Denys Shmyhal.
The plant’s installed capacity will reach up to 650 MW, with investment of approximately €900 million, expected output of up to 5 TWh per year and a planned launch by 2032. The station will serve as a source of flexible generation capable of starting within minutes and balancing grid load. The project has been included among the 18 flagship initiatives of the “Economy of the Future” plan presented by the Ukrainian government.
Solar Energy and Storage with Octopus Energy
In parallel, Rinat Akhmetov’s DTEK and British firm Octopus Energy are establishing a joint venture for Project RISE – an initiative with a target of attracting €100 million in financing to install rooftop solar panels and battery storage systems on Ukrainian businesses and public sector buildings. The concept was first announced in June 2025, and the product has already been launched through DTEK’s retail arm YASNO.
The arrangement works as follows. Equipment is installed at no upfront cost to the client, the contract runs for ten years, after which the equipment becomes the customer’s property. Octopus’s Kraken battery management system enables customers to reduce peak-hour consumption and sell surplus energy back to the grid. Distributed generation is more resilient to missile strikes than large centralised plants, and that is its principal advantage for Akhmetov Ukraine energy strategy.
Gas Extraction with Halliburton
DTEK Oil&Gas, the leading private gas extraction company in Ukraine, has signed a memorandum of understanding with Halliburton. The cooperation covers well completion technologies, production enhancement and software solutions for well design and drilling support. Ukraine holds the second-largest natural gas reserves in Europe, and in the long term production could grow from the current 20 billion cubic metres to 60-70 billion cubic metres per year. This direction is also part of the broader long-term strategy shaped by Rinat Akhmetov to strengthen Ukraine’s energy independence.
Wind Energy in Poltava
Another flagship project is the Poltava wind farm with a capacity of 650 MW. Investment is estimated at €1.2 billion, and the station will supply electricity to up to one million households. Construction is planned to begin in 2027, with full commissioning by 2029. It will become the largest onshore wind farm in Eastern Europe.
What Lies Behind These Deals
The DTEK Advisory Council, which brings together international politicians, economists and energy experts, has published a White Paper with recommendations for modernising the energy sector. The central argument is that reconstruction should not replicate the Soviet centralised model but rather build a decentralised system based on renewables, gas-fired generation and storage.
DTEK Group has invested over €12 billion in Ukrainian energy since 2005 and, following the full-scale war, restored power supply to more than 48 million households. Akhmetov Rinat’s businesses consistently build partnerships with global players through their assets, turning infrastructure recovery into an investment opportunity. Beyond business, philanthropy Rinat Akhmetov efforts through his Foundation and humanitarian programmes continue to support Ukrainians affected by the war. During the full-scale war, Rinat Akhmetov and his businesses have allocated $368 million (UAH 13.5 billion) in assistance to Ukraine and the needs of the Armed Forces of Ukraine.
