Maxim Timchenko

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New data just out from NV recognises DTEK’s leading position across Ukraine’s private sector. It shows that – of all private investment in Ukraine since the start of the full-scale war – more than one in every five euros was invested by DTEK. That’s €2.4 billion going into restoring generation, modernising grids, scaling renewables and expanding decentralised energy. We are getting on and building the foundations of a modern and secure energy system today. Even under sustained attack, we are proving that serious capital can be deployed at scale. In 2026, we will be investing even more – including the construction of one of Europe's largest onshore wind projects - the 650 MW Poltavska windfarm in central Ukraine - with a budget of €1.2 billion. DTEK is not pausing, retreating or waiting until after war – and that is our message to international investors. Ukraine has become a test-bed for the energy system of the future and one of the greatest opportunities in European energy. Our commitment is only possible thanks to the vision of our shareholder Rinat Akhmetov and the DTEK teams who, every day, make this vision a reality. See the news below 👇

I’ve spent the past few days at CERAWeek, where one theme stood out: energy security is no longer a regional issue for Ukraine and Europe — it’s now a global concern. In such uncertain times, Ukraine may not seem an obvious destination for investment. However, that view is changing fast. I’m hearing global energy leaders talk more about ways to mitigate risk to access Ukraine. They want energy sources that are closer to European markets; and see the scale, speed and hard‑won operational expertise we bring. Just a snapshot of those opportunities: ➡️Little-explored gas reserves (second biggest in Europe) ➡️The largest gas storage on the continent ➡️Large-scale wind and battery storage potential ➡️A ready market for LNG imports from the US ➡️A growing need for gas-fired generation to provide fast and flexible power ➡️And an energy system poised for a decade long-transformation guided by the need for energy security as we rebuild from war. This transformation is happening in real time and under extreme pressure. Today, Ukraine the world’s largest proving ground for new energy technologies. Encouraging discussions at @CERAWeek showed that the decisions we make now will shape not just Europe’s energy future, but global security too. My thanks to those I have met this week, including U.S. Secretary of @ENERGY @SecretaryWright, Ministers Katherina Reiche, Stavros Papastavrou and Žygimantas Vaičiūnas, Ukraine’s Minister of Energy @Denys_Shmyhal, @JJovanovicUSA from U.S. EXIM, Erica Ehst from DFC, Josh Volz, Special Envoy for Energy Integration, former U.S. ambassadors to Ukraine @geoffpyatt and Carlos Pascual, Roman Kramarchuk of S&P Global and energy leaders from @Halliburton, @DevonEnergy, @EQTCorp, @bakerhughesco, @Venture_Global, @Cheniere, @OneCarlyle Energy, @uniper_energy and RWE.

In four years of full-scale war, we never backed down in the face of russia’s energy terror. And we never will. Despite unprecedented attacks, the commitment, bravery and ingenuity of people across the energy sector continues to get us through this, the hardest winter in our history. This morning, I told the @BBCNews' @HockingsLucy how we have survived, and why we will emerge stronger.

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Yesterday at a special meeting of the International Energy Agency (@IEA) on Ukraine’s energy security, Energy Ministers @Denys_Shmyhal of Ukraine, @motykamilosz of Poland and Zygimantas Vaiciunas of Lithuania set out steps to support Ukraine through this and many winters ahead. Important contributions from US Secretary of Energy @SecretaryWright, Commissioner @DanJoergensen and Mechthild Wörsdörfer of the European Commission, @tuerkner from the EBRD as well as EDF CEO Bernard Fontana and Octopus’s @g__j. As I reminded the conference that … ➡️ If you want to see what energy terror looks like in 2026, visit Kyiv or Dnipro and see children sleeping in temperatures of 6C, or energy workers killed every week, just doing their job. ➡️ russian attacks on Ukraine’s energy infrastructure today represent a challenge for the whole of Europe. Today Ukraine is not only a military shield against russia, but is becoming a guarantor of the continent’s energy security. ➡️ Achieving true energy resilience for Ukraine will require the complete transformation of our energy system. That work has already begun thanks to the public-private partnerships we are forging with foreign governments and companies. ➡️ Thanks to our work with Denmark and @Vestas, this year we will complete the largest wind part in Ukraine. With @fluenceenergy and our US partners, we are today operating the largest battery storage system in Eastern Europe. Alongside @Siemens we are looking at new gas generation plants. And thanks to the partnership with @OctopusEnergy, we are developing ways for Ukrainian businesses to gain energy resilience through solar and battery installation. Our deep thanks to @fbirol and Talya Vatman at the IEA for driving this dialogue.

Useful discussions at Munich Security Conference #MSC2026 over the weekend – much of it focused on how international partners can help protect Ukraine’s energy infrastructure from relentless russian attacks. It was clear to me that Ukraine’s allies continue to stand shoulder to shoulder with us and we are grateful for the tireless efforts of President Zelenskyy in drawing global attention to our fight for survival. The next step is turning every expression of solidarity into action. Specifically, I spoke with leaders about Ukraine’s immediate energy needs: ➡️ Protecting energy infrastructure with greater air defence weaponry, and ➡️ Supporting the immediate energisation of Ukrainian homes with mobile generators and equipment to repair damaged power stations and the grid. Just as importantly for Europe, my message to industrial, political and military leaders in Munich is that they learn from Ukraine’s energy war and never underestimate the depths that russia will sink. Daily attacks on our power plants and substations prove that no nation or people are safe if they lack energy security. The defence of this infrastructure is vital to national security meaning investment in battle-tested, decentralised energy systems has never been more urgent. Grateful for the engagement in Munich, including with industry partners Christian Bruch, Markus Rauramo, Stefan B. Wintels and Mohamed Jameel Al Ramahi, US colleagues such as @ChrisRuddyNMX and Jarrod Agen and European interlocutors including Minister Katherina Reiche, EU Commissioner @MartaKosEU, Lithuania’s Zygimantas Vaiciunas, German Eastern Business Association and @Eurelectric’s @kristianruby.

Getting Ukraine through the deepest energy crisis in our history this winter will require global support. We need missiles for our air defence systems; equipment like mobile generators for frozen apartment blocks and transformers for bombed out power stations; and we urge further diplomatic efforts that would lead to a renewed energy ceasefire to save what russia has not already destroyed. Yesterday I was at #IEW26 in London making the case for more materiale and support, and I will be doing the same at the Munich Security Conference this weekend. While in London, I was honoured to be made an Honorary Fellow of the Energy Institute. I accepted it on behalf of every energy worker in Ukraine for the brave and life-saving work they are carrying out, day in and day out, in the service of our country. Thank you to @CordiOHara_NG, Dr Nick Wayth and Andy Brown at the @EnergyInstitute for all the support and solidarity you are providing.

While the world watches on, russian drones and missiles are dismantling the remaining pieces of Ukraine's energy system. Last night, it fired 40 missiles and 400 drones against us, destroying substations, transmission lines and power plants. Two DTEK power stations were badly hit and we are assessing the damage now. With temperatures dropping to -20C (-4F) by Monday, their objective is obvious: to maximise human suffering. If we don't get more air defence ammunition and stronger diplomatic support soon, Ukraine's energy crisis will quickly turn into a humanitarian crisis.

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russia's latest drone and missile assault plunges Ukraine's energy system into even greater danger. DTEK power stations suffered terrible damage - some of the worst we have seen - while in Kyiv thousands of families now face -25C (-11F) temperatures with NO heating for weeks. How can russia perpetrate these war crimes on civilian targets with such impunity? If the world stands by today, russia will grow bolder tomorrow. For the sake of every country's energy security, these attacks must stop.

During a visit to oversee recovery work at damaged DTEK power station earlier today, I received terrible news that a bus carrying DTEK coal miners nearby had been hit by russian drones, killing at least 12 people and injuring 16 others. Details are still emerging, but we can already say with certainty that this was an unprovoked terrorist attack on a purely civilian target, for which there can be no justification. This attack marks the single largest loss life of DTEK employees since russia's full-scale invasion and is one of the darkest days in our history. DTEK teams are working with emergency services on the ground in Dnipropetrovsk region to ensure the injured, and families who have lost loved ones, get all the care and support they need. Their sacrifice will never be forgotten.

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Wrapping up three days of intensive discussions at #WEF26 after one of the most consequential Davos gatherings in years. Geopolitics dominated and the search for peace in Ukraine was rightly at the centre. No element of that search for peace is more important than an immediate end to russia’s cynical attacks on our energy system. Under the leadership of President Zelensky, @dtek_group is committing our total focus and resources into minimising the suffering of Ukrainians and to prevent a humanitarian crisis. But ending the immediate threat is not enough. At Davos we met investors and global energy companies interested in working with DTEK to build a new and fortified system, based on decentralised energy assets. My thanks for the leadership and vision of all those we met, including President Zelensky, US Secretary of Energy @ChrisAWright_ , global investors including the EBRD and EIB, as well the leadership of energy companies including TotalEnergies, Vestas, Siemens Energy and Orlen. Our energy infrastructure is being tested like never before, but Ukraine will make it through this winter. With the support of our shareholder Rinat Akhmetov, DTEK is helping forge a system that will drive Ukraine’s reconstruction and, in time, will help lead Europe’s quest for energy independence.

@cnbcKaren @CNBC cnbc.com/video/2026/01/…

Pleased to see #WEF26 refocus on Ukraine this morning as russia continues to strike our energy system. I spoke with Stephen Sedgwick and @cnbcKaren on @CNBC about the impact of this bombing upon millions of people. My key points: ➡️ We are sincerely grateful to President Trump for his leadership in seeking an end to this war. He is the only person who can force russia to halt its brutality. ➡️ russia is not winning on the military frontline so it commits energy terror against innocent children and women in cities like Kyiv, Odesa and Dnipro. People are living in -20C (-4F) without power, heat or water. It is time for the world to stand up and say 'no more'. ➡️ We are fighting back: innovating by decentralising the energy system to make ourselves more resilient and strengthening our physical and cyber defences. In an unstable world, these threats are unfortunately not unique to Ukraine and we are ready to share lessons learned with more energy companies in order to boost our collective energy security. Thank you to CNBC for the platform to highlight these critical issues.

Urgent discussions at #WEF26 this morning after russia launched fresh attacks against energy infrastructure in Kyiv and other Ukrainian cities overnight. Over 1 million people in Kyiv saw water and heat temporarily cut off, in -15C temperatures. But the nightly battle for energy is not only horrific for the population, it is becoming a strategic threat to the economy and defence industry. Energy is critical not only to our survival, but also Ukraine’s recovery and eventually our emergence as an energy leader for Europe. At the 4th Annual Ukrainian Energy Roundtable this morning we discussed how to travel this path. My gratitude to @NaftogazUkraine CEO @KoretskyiUA for co-hosting and to Christya Freeland, Advisor on Economic Development to @ZelenskyyUa, for her insightful moderation. Important and timely contributions at this morning’s forum from: @taraskachka, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine; @OleksiiSobolev, Minister for Economy, Environment, and Agriculture of Ukraine; Matteo Patrone, Vice President, Banking, EBRD; Henrik Andersen, President and CEO; Vestas; Ireneusz Fąfara, CEO, Orlen; @JohnEdHerbst, Senior Director, Atlantic Council’s Eurasia Center; @ambdlacecilia , Special Envoy for the reconstruction of Ukraine of the Italian Minister of Foreign Affairs and International Cooperation; Artur Lorkowski, Director, Energy Community Secretariat; @AMcDowell, Director General of EIB Global; Anders Opedal, President & CEO, Equinor; @geoffpyatt, Assistant Secretary for Energy Resources, U.S. Department of State (2022– 2025); Former US Ambassador @kvolker.