LONDON: 31/10/17 12:00 GMT: DTEK, Ukraine’s largest energy group, is the latest organisation to join Climate Bond’s Partner Program.
The decision is a signal of their commitment to a low carbon transition. The partnership will help develop mechanisms to attract financing for green energy projects by opening up the Ukrainian green debt finance market and attracting private capital to fund key players’ climate ambitions in line with NDCs.
By 2020 Ukraine is going to increase electricity production from renewable energy sources by 7.4 billion kWh compared to today’s annual production to reach 9 billion kWh per year, in accordance with the Energy Strategy.
DTEK is the second Ukrainian company to partner with the Climate Bonds Initiative following BFSE.
Maxim Timchenko, CEO, DTEK:
“Ukraine's energy sector tends to follow global trends. Development of various energy sources creates a stable platform for further evolution of the sector taking into account the need for capacity substitution. We always welcome innovations and new business areas. To encourage the use of renewable energy, we build wind and solar power plants. Thus, we contribute to the development of new Ukrainian energy: clean, efficient and competitive.”
Sean Kidney, CEO, Climate Bonds Initiative:
“Policy makers, investors, asset managers and the wider community want to see more ‘brown to green’ financing and energy companies shifting generation towards clean sources. We are starting to see some global examples, but the pace must dramatically accelerate. Partnering with DTEK provides us with an opportunity to work with a major Eastern European company that has both brown and green assets and is looking at how to make that energy transition.”
Climate Bonds contact:
Andrew Whiley Head of Communications & Media
+44 (0)7506 270 943
Corporate Communications Department
+38 (044) 581 45 35
+38 (044) 581 45 70
Notes for journalists:
About Climate Bonds Initiative: Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. Climate Bonds undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers an international Standards & Certification Scheme for green bonds. For more information, please visit www.climatebonds.net.
Climate Bonds Partners Program: Banks, institutional investors, non-governmental organizations (NGOs), governments and other relevant market players are eligible to join as Climate Bond Partners to help grow a market of green and climate bonds. Partners assist in developing initiatives to grow investment in climate finance solutions and participate in different market development committees & help define policy agendas for sector, country & sub-national programs. A list of Partners is available here.
About DTEK: DTEK is a strategic holding company that develops four business streams in the energy sector. DTEK companies produce coal and natural gas, generate electricity at the fossil-fuelled power plants and renewable energy power plants, supply heating and electricity to end consumers, and provide energy services. Its operating companies: DTEK ENERGY, DTEK Renewables and DTEK Oil & Gas directly manage production companies in each of the business streams.
DTEK is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov. For more information, visit: http://www.dtek.com/. To learn about the social partnership projects in progress in the towns and cities of DTEK companies' operations, visit http://spp-dtek.com.ua.