DTEK Renewables invests in Romania wind project

Ukraine’s biggest green energy producer DTEK Renewables
(DTEKUA) had agreed to acquire a 60 MW wind development project in eastern
Romania, according to the DTEK newsletter distributed on Feb. 1. The
transaction is expected to be completed in Q322, subject to regulatory permits
and the fulfilment of certain milestones. If so, the company expects that the
construction of the wind farm, to be done in cooperation with a local
developer, will begin in late 2022. The wind farm is expected to be fully
operational by the end of 2023.

“This investment represents an attractive opportunity
for DTEK to start its expansion into the EU by entering the growing Romanian
renewables market,” DTEK stated.

Alexander Paraschiy: The project
is small compared to DTEK Renewables’ Ukrainian business (950 MW capacity currently,
plus 500 MW project under construction), but it marks the start of a new stage
in the company’s life. Expansion to EU markets, which looks inevitable, will
decrease DTEK Renewable’s regulatory and business risks and should help the
company to improve its image and credit ratings. We continue to treat DTEREN
bonds as the most attractive among euro-denominated Ukraine-related bonds.