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DTEK joins Climate Bonds Initiative Partners Program

 

LONDON - October 31, 2017 (Investorideas.com Newswire) DTEK, Ukraine's largest energy group, is the latest organisation to join Climate Bond's Partner Program.

The decision is a signal of their commitment to a low carbon transition. The partnership will help develop mechanisms to attract financing for green energy projects by opening up the Ukrainian green debt finance market and attracting private capital to fund key players' climate ambitions in line with NDCs.

By 2020 Ukraine is going to increase electricity production from renewable energy sources by 7.4 billion kWh compared to today's annual production to reach 9 billion kWh per year, in accordance with the Energy Strategy.

DTEK is the second Ukrainian company to partner with the Climate Bonds Initiative following BFSE.

Maxim Timchenko, CEO, DTEK

"Ukraine's energy sector tends to follow global trends. Development of various energy sources creates a stable platform for further evolution of the sector taking into account the need for capacity substitution. We always welcome innovations and new business areas. To encourage the use of renewable energy, we build wind and solar power plants. Thus, we contribute to the development of new Ukrainian energy: clean, efficient and competitive."

Sean Kidney, CEO, Climate Bonds Initiative

"Policy makers, investors, asset managers and the wider community want to see more ‘brown to green' financing and energy companies shifting generation towards clean sources. We are starting to see some global examples, but the pace must dramatically accelerate. Partnering with DTEK provides us with an opportunity to work with a major Eastern European company that has both brown and green assets and is looking at how to make that energy transition."

Climate Bonds contact:

Andrew Whiley
Head of Communications & Media
+44 (0)7506 270 943 andrew.whiley@climatebonds.net

DTEK contact:

Corporate Communications Department
+38 (044) 581 45 35
+38 (044) 581 45 70
pr@dtek.com

About Climate Bonds Initiative:

Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy.

Climate Bonds undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers an international Standards & Certification Scheme for green bonds. For more information, please visit www.climatebonds.net.

Climate Bonds Partners Program: Banks, institutional investors, non-governmental organizations (NGOs), governments and other relevant market players are eligible to join as Climate Bond Partners to help grow a market of green and climate bonds. Partners assist in developing initiatives to grow investment in climate finance solutions and participate in different market development committees & help define policy agendas for sector, country & sub-national programs. A list of Partners is available here.

About DTEK:

DTEK is a strategic holding company that develops four business streams in the energy sector. DTEK companies produce coal and natural gas, generate electricity at the fossil-fuelled power plants and renewable energy power plants, supply heating and electricity to end consumers, and provide energy services. Its operating companies: DTEK ENERGY, DTEK Renewables and DTEK Oil & Gas directly manage production companies in each of the business streams.

DTEK is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov. For more information, visit: http://www.dtek.com/. To learn about the social partnership projects in progress in the towns and cities of DTEK companies' operations, visit http://spp-dtek.com.ua.

Disclaimer: The information contained in this communication does not constitute investment advice in any form and the Climate Bonds Initiative is not an investment adviser. Any reference to a financial organisation or debt instrument or investment product is for information purposes only. Links to external websites are for information purposes only. The Climate Bonds Initiative accepts no responsibility for content on external websites.

The Climate Bonds Initiative is not endorsing, recommending or advising on the financial merits or otherwise of any debt instrument or investment product and no information within this communication should be taken as such, nor should any information in this communication be relied upon in making any investment decision.

Certification under the Climate Bond Standard only reflects the climate attributes of the use of proceeds of a designated debt instrument. It does not reflect the credit worthiness of the designated debt instrument, nor its compliance with national or international laws.

A decision to invest in anything is solely yours. The Climate Bonds Initiative accepts no liability of any kind, for any investment an individual or organisation makes, nor for any investment made by third parties on behalf of an individual or organisation, based in whole or in part on any information contained within this, or any other Climate Bonds Initiative public communication.


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