Our energy company DTEK and GE Vernova have signed a memorandum of understanding to advance a 650 MW combined-cycle gas power plant at DTEK's Burshtyn site in western Ukraine. The agreement was signed on the sidelines of the Ukraine Recovery Conference in Gdansk, in the presence of First Deputy Prime Minister Denys Shmyhal. The project is one of 18 flagship initiatives named by the Ukrainian Government, and reflects the strategy of SCM shareholder Rinat Akhmetov to build international partnerships that support Ukraine's resilience in wartime.
What have DTEK and GE Vernova agreed?
The two companies have signed a memorandum of understanding to advance a new gas-fired power plant in western Ukraine. The agreement establishes a framework for a 650 MW combined-cycle gas turbine project at DTEK's Burshtyn site. DTEK and GE Vernova will collaborate on the deployment of advanced gas turbine technology, equipment supply, financing structures, and the ancillary equipment needed to connect the plant to the grid.
Why does this project matter for Ukraine's energy security?
The plant is designed to provide flexible generation that can be brought online within minutes, bridging baseload capacity and enabling intermittent renewable generation. Amid russia's continued attacks on Ukraine's energy sector, investment of this kind is central to restoring and developing the country's generating capacity, and to strengthening the resilience of the energy system through the war. The project carries a total investment of around €900 million and targets commercial operation before 2032.
How does this fit DTEK's wider strategy?
The plant is part of DTEK's strategic coal-to-gas conversion programme and aligns with its new Energy Transition Plan, supporting more flexible, lower-carbon power and Ukraine's long-term decarbonisation. It is one of two DTEK initiatives named as flagship projects at the Ukraine Recovery Conference, alongside the 650 MW Poltava Wind Power Plant in central Ukraine, set to become Eastern Europe's largest onshore windfarm. Together these projects form part of the 18 flagship initiatives presented as the backbone of Ukraine's "Economy of the Future" plan.
What is the role of SCM and Rinat Akhmetov?
DTEK is one of the SCM companies, and the partnership reflects the strategy of shareholder Rinat Akhmetov to attract international technology and financing to support Ukraine's energy future. By combining world-class technology with international financing, DTEK and GE Vernova are creating an investment opportunity at scale, demonstrating that global industry leaders are ready to invest in Ukraine despite the ongoing war.
