Ukraine’s Largest Energy Company to Close All Coal Plants by 2035 and Raise Renewables Spending

DTEK published its first energy transition plan this week, committing to close its entire fleet of coal-fired power plants and coal mines by 2035. The company also said it would increase investment in wind, solar, batteries, and grids. DTEK is Ukraine’s biggest energy company.

Its current assets center on large, centralized, Soviet-era power plants. The shift is intended to cut the firm’s full-scope carbon footprint 90 percent below 2023 levels by 2050 and to make the system more resistant to future attacks. Chief Sustainability Officer Jeff Oatham told Semafor that energy security and energy transition are not things that Ukraine has to choose between.

Grid modernization alone will require at least $7 billion over the next decade, he said, and attracting investment remains difficult without foreign-government guarantees.