DTEK and Octopus Energy Group have today launched a solar and battery funding initiative called RISE, which aims to strengthen energy security across Ukraine.
The initiative aims to raise €100m over the next three years to finance 100 solar and battery energy storage systems for businesses and public sector institutions across the country.
RISE, which stands for Resilient Independent Solar Energy, is the first programme of its kind in Ukraine. Announced at the Octopus Energy Tech Summit in London, the partnership brings together DTEK’s on-the-ground experience with Octopus Energy Group’s AI-powered operating system, Kraken.
The partners said the initiative will help stabilise the grid, lower electricity costs for customers and protect them against outages and price hikes.
The solar and battery systems will be installed directly on customer premises by D.Solutions, DTEK’s business specialising in consumer energy supply and energy efficiency services, under its retail brand, YASNO.
The projects will use the Kraken operating system, enabling businesses to optimise and manage their energy use in real time, reduce consumption during peak hours, and sell surplus electricity back to the grid.
DTEK chief executive Maxim Timchenko said: “About 70% of Ukraine’s thermal generation capacity has been damaged, destroyed or seized since the full-scale invasion.
“This has created not only an urgent need to rebuild but also an opportunity to accelerate the shift to a decentralised, renewable energy system.
“This partnership with Octopus Energy combines the strength of two national energy champions and is a step towards that future.
“By combining investment, technology and international support, we can help Ukrainian businesses and communities take control of their energy needs and lay the foundation for lasting energy independence.
“We are especially grateful to the UK Government and British people for their unwavering support for Ukraine.”
Octopus Energy Group’s founder and chief executive Greg Jackson said: “Ukraine – and specifically DTEK – has demonstrated incredible resilience and agility in the face of unprecedented destruction to its energy system.
“They are rebuilding at pace and pioneering a decentralised, smart energy system powered by homegrown renewables – and this is exactly where Kraken can be highly effective. We’re proud to partner with them to help Ukraine come back stronger than ever.”