DTEK’s Investment Drive in Japan to Mobilise Support for Ukraine’s Energy Sector

DTEK, Ukraine’s largest private energy producer, is launching a fresh investment drive in Japan to mobilise support for Ukraine’s energy sector. The visit includes the signing of a new cyber security agreement to protect vital civilian energy infrastructure against Russian hackers.

DTEK CEO Maxim Timchenko is part of a Ukrainian delegation of business leaders, led by Prime Minister Denys Shmyhal, attending the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction in Tokyo.

Japan has been one of Ukraine’s strongest allies during the decade of war with Russia and offers valuable experience in rebuilding infrastructure, having itself suffered damage from disasters such as earthquakes. Japanese companies have provided support to DTEK since 2014.

“Japan’s government and its businesses have been staunch supporters of Ukrainian businesses like DTEK for over a decade. I am sincerely grateful for the spirit of partnership we have found on our visit to Tokyo and believe this conference writes a new chapter in the story of cooperation between Japan and Ukraine. More than ever, we need Japan’s support in our efforts to defeat the aggressor,” DTEK CEO Maxim Timchenko said.

Among formal and informal meetings with decision-makers, DTEK is providing updates on how the company is uniquely positioned to become a cornerstone of the reconstruction effort. DTEK activities during the visit also include signing a Memorandum of Understanding with global security experts GSX to provide a comprehensive vulnerability assessment of its assets, through DTEK’s IT company Modus X.

The GSX agreement is the third to be signed between DTEK and partners from Japan in the past decade:

• In 2013-2014, ITOCHU Corporation and Tokyo Electric Power Services Co., Ltd (TEPSCO), worked with DTEK on a preliminary feasibility study for the construction of a new power unit at DTEK’s Dobrotvirska thermal power plant (TPP).
• In October 2014 the Japanese association JCOAL and Japan’s Ministry of Economy, Trade and Industry worked with DTEK on a project looking at the modernisation of its Burshtynska TPP.

In addition to activities within the delegation, DTEK executives are scheduled to meet representatives from a number of Japanese companies during the three-day visit, including the Japan Bank for International Cooperation (JBIC), state-owned Nippon Export Investment Insurance, the Japan International Cooperation Agency (JICA), power generator JERA, multinational trading conglomerates ITOCHU and Marubeni, engineering firm Nippon Koei, and international bank Nomura. DTEK also initiated dialogue with Mitsubishi Heavy Industries and Mitsubishi Corporation, Hitachi and Sumitomo Corporation.