Maxim Timchenko

CEO of DTEK, Ukraine's largest private energy investor. Leading energy transition, resilience, and advocating for European energy integration.

[Maxim Timchenko @TimchenkoMaxim]

Read the full interview in The Guardian: https://t.co/e0oAKSn778

[Maxim Timchenko @TimchenkoMaxim]

A powerful reminder that Ukraine is not waiting for the war to end – in line with Rinat Akhmetov's vision, we are rebuilding now, with resilience, investment, and a belief in our future.

[DTEK Group @DTEK_Group]

“I am confident that Ukraine’s future is free, democratic and European.”

DTEK shareholder Rinat Akhmetov gives his first major interview since 2022 and puts investment at the heart of his role in rebuilding Ukraine.

Here are three short points from the interview.

@guardian

[Maxim Timchenko @TimchenkoMaxim]

Ukraine is showing how energy systems must evolve to survive. And Europe is listening.

At the Architecture of Security conference in Kyiv earlier today, I warned that no country is fully prepared for a world in which critical infrastructure is seen as a target of war.

Days earlier, at the invitation of our partners E.ON, I spelt out to their networks leadership group what that threat means in practice for European security.

Since 2022, DTEK has lost the vast majority of its capacity on multiple occasions - and each time we have rebuilt it. What works:

🤝 Strong coordination
🇪🇺 European integration
🔋 Decentralised energy

👤 And above all -people who refuse to give up. 

My thanks to Thomas Konig for E.ON's support and my fellow panelists earlier today: Minister Denys Shmyhal, former US Ambassador to Ukraine and DTEK Advisory Council Chairman Geoffrey Pyatt; Olena Pavlenko of DiXi Group and Volodymyr Kudrytskyi.

[Maxim Timchenko @TimchenkoMaxim]

Each time I’ve met Oleksandr, I've left with the same impression: of a man with focus, determination and humanity. A Ukrainian to the core.

DTEK is proud to support @usykaa this weekend. 🇺🇦🥊

[Maxim Timchenko @TimchenkoMaxim]

We have paid a huge price to keep the lights on in Ukraine since 2022.

This morning at the @GermanyDiplo , I set out key lessons in energy security that DTEK has learnt in more than four years of war.

Three takeaways that the rest of Europe should take on board:

1. People - You need a highly trained team who know exactly what to do in an attack and who stay motivated whatever the challenge.

2. Planning - From high-level system design to making sure you have the right spare parts, understand your vulnerabilities and act now.

3. Protection - From concrete blocks to multi-layered air defences, Ukraine's experience is today relevant to every country in Europe.

Grateful to the German Government and my fellow speakers: Minister of Energy Denis Shmyhal, Mihai Popsoi , Minister of Foreign Affairs of Moldova, Jean-Charles Ellermann-Kingombe, NATO Assistant Secretary General for Cyber Defence and Digital Transformation, Stefan Kapferer, CEO 50Hertz Transmission GmbH, Olena Pavlenko, President DiXi Group think tank.
Moderator: Olga Khakova, Fellow Atlantic Council Global Energy Center (GEC).

[Maxim Timchenko @TimchenkoMaxim]

Grateful for the engagement of international and Ukrainian media who joined us in Kyiv last week to hear the latest on Ukraine’s energy system and our plans to strengthen it.

After four years of full-scale war and the toughest winter in our history, the lesson is clear – resilience depends on preparation, discipline and delivery as much as heroism. That is why DTEK is working around the clock and investing heavily to prepare for another winter.

There is a huge amount to do in the next six months, but my message to assembled journalists was one of confidence. Not only is Ukraine becoming sovereign in its energy needs, but with Europe looking for new and closer sources of energy supply, Ukraine has a pivotal role to play.

By DTEK's actions, we are demonstrating that investing in this future today is possible.

[Maxim Timchenko @TimchenkoMaxim]

Learn more: https://t.co/azUZ8TWawr

[Maxim Timchenko @TimchenkoMaxim]

New data just out from NV recognises DTEK’s leading position across Ukraine’s private sector. It shows that – of all private investment in Ukraine since the start of the full-scale war – more than one in every five euros was invested by DTEK.

That’s €2.4 billion going into restoring generation, modernising grids, scaling renewables and expanding decentralised energy. We are getting on and building the foundations of a modern and secure energy system today.

Even under sustained attack, we are proving that serious capital can be deployed at scale. In 2026, we will be investing even more – including the construction of one of Europe's largest onshore wind projects - the 650 MW Poltavska windfarm in central Ukraine - with a budget of €1.2 billion.

DTEK is not pausing, retreating or waiting until after war – and that is our message to international investors. Ukraine has become a test-bed for the energy system of the future and one of the greatest opportunities in European energy.

Our commitment is only possible thanks to the vision of our shareholder Rinat Akhmetov and the DTEK teams who, every day, make this vision a reality.

See the news below 👇

[Maxim Timchenko @TimchenkoMaxim]

I’ve spent the past few days at CERAWeek, where one theme stood out: energy security is no longer a regional issue for Ukraine and Europe — it’s now a global concern.

In such uncertain times, Ukraine may not seem an obvious destination for investment. However, that view is changing fast. I’m hearing global energy leaders talk more about ways to mitigate risk to access Ukraine. They want energy sources that are closer to European markets; and see the scale, speed and hard‑won operational expertise we bring.

Just a snapshot of those opportunities:

➡️Little-explored gas reserves (second biggest in Europe)
➡️The largest gas storage on the continent
➡️Large-scale wind and battery storage potential
➡️A ready market for LNG imports from the US
➡️A growing need for gas-fired generation to provide fast and flexible power
➡️And an energy system poised for a decade long-transformation guided by the need for energy security as we rebuild from war.

This transformation is happening in real time and under extreme pressure. Today, Ukraine the world’s largest proving ground for new energy technologies.

Encouraging discussions at @CERAWeek showed that the decisions we make now will shape not just Europe’s energy future, but global security too.

My thanks to those I have met this week, including U.S. Secretary of @ENERGY @SecretaryWright, Ministers Katherina Reiche, Stavros Papastavrou and Žygimantas Vaičiūnas, Ukraine’s Minister of Energy @Denys_Shmyhal, @JJovanovicUSA from U.S. EXIM, Erica Ehst from DFC, Josh Volz, Special Envoy for Energy Integration, former U.S. ambassadors to Ukraine @geoffpyatt and Carlos Pascual, Roman Kramarchuk of S&P Global and energy leaders from @Halliburton, @DevonEnergy, @EQTCorp, @bakerhughesco, @Venture_Global, @Cheniere, @OneCarlyle Energy, @uniper_energy and RWE.

[Maxim Timchenko @TimchenkoMaxim]

In four years of full-scale war, we never backed down in the face of russia’s energy terror. And we never will.

Despite unprecedented attacks, the commitment, bravery and ingenuity of people across the energy sector continues to get us through this, the hardest winter in our history.

This morning, I told the @BBCNews' @HockingsLucy how we have survived, and why we will emerge stronger.

[Maxim Timchenko @TimchenkoMaxim]

Learn more: https://t.co/6PIz7ly77l

[Maxim Timchenko @TimchenkoMaxim]

Yesterday at a special meeting of the International Energy Agency (@IEA) on Ukraine’s energy security, Energy Ministers @Denys_Shmyhal of Ukraine, @motykamilosz of Poland and Zygimantas Vaiciunas of Lithuania set out steps to support Ukraine through this and many winters ahead. Important contributions from US Secretary of Energy @SecretaryWright, Commissioner @DanJoergensen and Mechthild Wörsdörfer of the European Commission, @tuerkner from the EBRD as well as EDF CEO Bernard Fontana and Octopus’s @g__j.

As I reminded the conference that …

➡️ If you want to see what energy terror looks like in 2026, visit Kyiv or Dnipro and see children sleeping in temperatures of 6C, or energy workers killed every week, just doing their job.
➡️ russian attacks on Ukraine’s energy infrastructure today represent a challenge for the whole of Europe. Today Ukraine is not only a military shield against russia, but is becoming a guarantor of the continent’s energy security.
➡️ Achieving true energy resilience for Ukraine will require the complete transformation of our energy system. That work has already begun thanks to the public-private partnerships we are forging with foreign governments and companies.
➡️ Thanks to our work with Denmark and @Vestas, this year we will complete the largest wind part in Ukraine. With @fluenceenergy and our US partners, we are today operating the largest battery storage system in Eastern Europe. Alongside @Siemens we are looking at new gas generation plants. And thanks to the partnership with @OctopusEnergy, we are developing ways for Ukrainian businesses to gain energy resilience through solar and battery installation.

Our deep thanks to @fbirol and Talya Vatman at the IEA for driving this dialogue.

[Maxim Timchenko @TimchenkoMaxim]

Useful discussions at Munich Security Conference #MSC2026 over the weekend – much of it focused on how international partners can help protect Ukraine’s energy infrastructure from relentless russian attacks.

It was clear to me that Ukraine’s allies continue to stand shoulder to shoulder with us and we are grateful for the tireless efforts of President Zelenskyy in drawing global attention to our fight for survival. The next step is turning every expression of solidarity into action. Specifically, I spoke with leaders about Ukraine’s immediate energy needs:

➡️ Protecting energy infrastructure with greater air defence weaponry, and
➡️ Supporting the immediate energisation of Ukrainian homes with mobile generators and equipment to repair damaged power stations and the grid.

Just as importantly for Europe, my message to industrial, political and military leaders in Munich is that they learn from Ukraine’s energy war and never underestimate the depths that russia will sink. Daily attacks on our power plants and substations prove that no nation or people are safe if they lack energy security. The defence of this infrastructure is vital to national security meaning investment in battle-tested, decentralised energy systems has never been more urgent.

Grateful for the engagement in Munich, including with industry partners Christian Bruch, Markus Rauramo, Stefan B. Wintels and Mohamed Jameel Al Ramahi, US colleagues such as @ChrisRuddyNMX and Jarrod Agen and European interlocutors including Minister Katherina Reiche, EU Commissioner @MartaKosEU, Lithuania’s Zygimantas Vaiciunas, German Eastern Business Association and @Eurelectric’s @kristianruby.

[Maxim Timchenko @TimchenkoMaxim]

Getting Ukraine through the deepest energy crisis in our history this winter will require global support. We need missiles for our air defence systems; equipment like mobile generators for frozen apartment blocks and transformers for bombed out power stations; and we urge further diplomatic efforts that would lead to a renewed energy ceasefire to save what russia has not already destroyed.

Yesterday I was at #IEW26 in London making the case for more materiale and support, and I will be doing the same at the Munich Security Conference this weekend.

While in London, I was honoured to be made an Honorary Fellow of the Energy Institute. I accepted it on behalf of every energy worker in Ukraine for the brave and life-saving work they are carrying out, day in and day out, in the service of our country. Thank you to @CordiOHara_NG, Dr Nick Wayth and Andy Brown at the @EnergyInstitute for all the support and solidarity you are providing.

[Maxim Timchenko @TimchenkoMaxim]

While the world watches on, russian drones and missiles are dismantling the remaining pieces of Ukraine's energy system. Last night, it fired 40 missiles and 400 drones against us, destroying substations, transmission lines and power plants.

Two DTEK power stations were badly hit and we are assessing the damage now. With temperatures dropping to -20C (-4F) by Monday, their objective is obvious: to maximise human suffering. If we don't get more air defence ammunition and stronger diplomatic support soon, Ukraine's energy crisis will quickly turn into a humanitarian crisis.

[Maxim Timchenko @TimchenkoMaxim]

Learn more: https://t.co/1LaeQtjYTI

[Maxim Timchenko @TimchenkoMaxim]

russia's latest drone and missile assault plunges Ukraine's energy system into even greater danger. DTEK power stations suffered terrible damage - some of the worst we have seen - while in Kyiv thousands of families now face -25C (-11F) temperatures with NO heating for weeks. How can russia perpetrate these war crimes on civilian targets with such impunity? If the world stands by today, russia will grow bolder tomorrow. For the sake of every country's energy security, these attacks must stop.

[Maxim Timchenko @TimchenkoMaxim]

During a visit to oversee recovery work at damaged DTEK power station earlier today, I received terrible news that a bus carrying DTEK coal miners nearby had been hit by russian drones, killing at least 12 people and injuring 16 others. Details are still emerging, but we can already say with certainty that this was an unprovoked terrorist attack on a purely civilian target, for which there can be no justification. This attack marks the single largest loss life of DTEK employees since russia's full-scale invasion and is one of the darkest days in our history. DTEK teams are working with emergency services on the ground in Dnipropetrovsk region to ensure the injured, and families who have lost loved ones, get all the care and support they need. Their sacrifice will never be forgotten.