UAE-based Masdar owned by Mubadala Investment Company, and Ukraine’s leading private power producer, DTEK have signed a strategic agreement to explore potential clean energy investments in Ukraine. This was a trilateral MoU between Mubadala, Masdar, and DTEK. Other MoUs were also signed with various Ukrainian government and private entities.

“As a global leader in renewable energy, with a presence in more than 30 countries, Masdar welcomes this opportunity to help Ukraine achieve its clean energy goals,” Mohamed Jameel Al Ramahi, CEO of Masdar said. “Our business model is based on forging strong partnerships in the sectors and geographies in which we operate, and we look forward to exploring potential areas of collaboration with DTEK in Ukraine. By leveraging our combined expertise, Masdar and DTEK will be able to best identify the path forward for Ukraine’s renewable energy sector.”

“In our action to tackle climate change, we go even further with our new partners Masdar and Mubadala to help build a carbon-free future for all,” Maxim Timchenko, CEO of DTEK said. “We welcome international cooperation and partnerships as the foundation for future success. DTEK is ready to share its experience and contribute to achieving this goal.”

DTEK Renewables is the operating company that manages DTEK’s renewable energy assets. It manages a portfolio of 1 GW of solar and wind capacities. As part of its Energy Strategy, Ukraine aims to increase the share of renewables in the country’s energy mix to 25 percent by 2035.