DTEK and GE Vernova have signed the largest private deal, worth €900 million, to build a combined cycle power station in Ukraine. The project will have a capacity of 650 MW and will be located on the site of the Burshtyn Thermal Power Station.
- DTEK and GE Vernova have signed a €900 million agreement.
- Construction of a 650 MW combined cycle power station.
- The project will supply electricity to up to 1 million customers.
- The power station is scheduled to come on stream by 2032.
- The project has been included in the government’s list of flagship initiatives.
A major project for Ukraine’s energy sector
DTEK and GE Vernova signed a €900 million agreement during the Ukraine Recovery Conference (URC 2026) in Gdańsk. This deal was the largest private-sector investment agreement signed during this year’s conference. According to Oleksiy Sobolev, Deputy Minister of Economy, the project is of strategic importance for Ukraine’s energy security.
The project involves the construction of a modern combined-cycle gas and steam (CCGT) power station with a capacity of up to 650 MW, which will be able to supply electricity to between 500,000 and 1 million consumers. Location: the site Burshtyn Thermal Power Station in Western Ukraine. Electricity generation is expected to reach up to 5 TWh per year.
The project’s timeline is impressive: contracts are expected to be signed in 2027, with commercial operation scheduled to begin by 2032. This is the first facility of its kind in Ukraine, which will ensure a high degree of flexibility in the power system. Unlike older coal-fired units, the new turbine will be able to start up and reach full capacity in a matter of minutes, enabling the power system to be balanced effectively.
Chief Executive Officer of DTEK Maksym Timchenko He emphasised that the project is being developed with military risks in mind. The power station will be fitted with special protective measures to safeguard critical equipment against potential air strikes.
“This power station will enhance the flexibility and resilience of the power system during the war. I would like to thank GE Vernova and the United States for their trust and willingness to invest in Ukraine’s energy future,” he said.
Flagship status for the project
The Cabinet of Ministers of Ukraine has included this project in the list of 18 flagship initiatives under the government’s plan “The Economy of the Future“. Alongside this, another major DTEK project has been designated as a flagship – the 650 MW Poltava wind farm, with an investment of €1.2 billion. Construction of this power station is due to begin in early 2027. DTEK is currently in active negotiations with international financial institutions regarding the structuring of financing for both projects.
