26.05.2011, 22:26
DTEK Shares Its Vision of Future of Power Sector
OREANDA-NEWS. May 26, 2011. DTEK, the leader of the Ukrainian fuel and energy sector, has presented the analysis of global and national trends in power generation and the Company’s development concept till 2030. Special focus has been put on a vision of the present-day energy company and its role in a social development.
Consideration of the global trends has enabled the Company to determine the major challenges of the global energy market DTEK operates on: a steady growth of the power demand coupled with shortage of energy resources and tightening of environmental requirements as well as growth of energy corporations’ responsibility to the society. Being a Ukrainian company, DTEK is fully aware of the problems in the national power sector; the Company is looking for the new power units’ construction projects, coal production development and existing thermal power plants modernization, attracting investments into the production of domestic hydrocarbons and maximum effective use of the renewables. The total volume of capital investment that DTEK plans to make by 2030 is estimated to be nearly USD 20 billion.
DTEK has determined the six strategic development vectors for the next 20 years.
Energy. The main product of DTEK is the electric power. The basis of the Company’s energy business will be the thermal generation with own fuel supply. The Company will strive to diversify its asset portfolio participating in projects related to renewable energy sources and hydro generation.
Society. DTEK strives to become the leader in the socio-responsible business building. The Company will participate in the Ukrainian economy reformation and modernization, social development of the regions of its presence and promotion of the best practices in the area of industrial and environmental safety.
People. People are the key driving force of DTEK’s development and the source of its competitive advantage. DTEK will continue active investment into development of its personnel and promotion of innovative culture in production and management practices.
Efficiency. Efficient production, investment activity and management will be the basis for successful growth of DTEK.
Ukraine “plus”. Although Ukraine will remain the major market for DTEK, Eastern Europe and CIS will become the priority regions for the Company further growth where trading and companies’ acquisitions will be the tools to enter the external markets.
Clients. Sale of electricity and supporting services to all categories of consumers will become an important part of DTEK’s business. The Company will actively develop the retail brand of DTEK.
“The main idea that lies in the basis of our long-term development concept is readiness to compete with the largest European power companies. Speaking in football terms, we want to get to the Champions League in the European power sector and win the Champions Cup, in other words to become the best of the best. For us this means: the highest salaries for our employees, the highest safety standards, the best living conditions in the towns and cities where our enterprises are located and the best business reputation. These goals are very ambitious, they require great human efforts, production and investment resources and support from the public and the state. Our ambitions are also supported by the profound analysis of the global trends and the understanding of our competitive advantages. We are already on our way to enter the business-club of the best representatives of the Western power industry,” – said Maxim Timchenko, the CEO of DTEK.
Development of 20+ DTEK long-term strategy has began in March 2010 starting with the analysis of the future of global community. So far, the Company has involved over 100 of its employees into the analysis and research activity. At the second stage, long-term vision of DTEK’s development was shaped and in 2011 elaboration of the detailed company strategy till 2030 was commenced. The consulting support is provided by McKinsey Company.
Consideration of the global trends has enabled the Company to determine the major challenges of the global energy market DTEK operates on: a steady growth of the power demand coupled with shortage of energy resources and tightening of environmental requirements as well as growth of energy corporations’ responsibility to the society. Being a Ukrainian company, DTEK is fully aware of the problems in the national power sector; the Company is looking for the new power units’ construction projects, coal production development and existing thermal power plants modernization, attracting investments into the production of domestic hydrocarbons and maximum effective use of the renewables. The total volume of capital investment that DTEK plans to make by 2030 is estimated to be nearly USD 20 billion.
DTEK has determined the six strategic development vectors for the next 20 years.
Energy. The main product of DTEK is the electric power. The basis of the Company’s energy business will be the thermal generation with own fuel supply. The Company will strive to diversify its asset portfolio participating in projects related to renewable energy sources and hydro generation.
Society. DTEK strives to become the leader in the socio-responsible business building. The Company will participate in the Ukrainian economy reformation and modernization, social development of the regions of its presence and promotion of the best practices in the area of industrial and environmental safety.
People. People are the key driving force of DTEK’s development and the source of its competitive advantage. DTEK will continue active investment into development of its personnel and promotion of innovative culture in production and management practices.
Efficiency. Efficient production, investment activity and management will be the basis for successful growth of DTEK.
Ukraine “plus”. Although Ukraine will remain the major market for DTEK, Eastern Europe and CIS will become the priority regions for the Company further growth where trading and companies’ acquisitions will be the tools to enter the external markets.
Clients. Sale of electricity and supporting services to all categories of consumers will become an important part of DTEK’s business. The Company will actively develop the retail brand of DTEK.
“The main idea that lies in the basis of our long-term development concept is readiness to compete with the largest European power companies. Speaking in football terms, we want to get to the Champions League in the European power sector and win the Champions Cup, in other words to become the best of the best. For us this means: the highest salaries for our employees, the highest safety standards, the best living conditions in the towns and cities where our enterprises are located and the best business reputation. These goals are very ambitious, they require great human efforts, production and investment resources and support from the public and the state. Our ambitions are also supported by the profound analysis of the global trends and the understanding of our competitive advantages. We are already on our way to enter the business-club of the best representatives of the Western power industry,” – said Maxim Timchenko, the CEO of DTEK.
Development of 20+ DTEK long-term strategy has began in March 2010 starting with the analysis of the future of global community. So far, the Company has involved over 100 of its employees into the analysis and research activity. At the second stage, long-term vision of DTEK’s development was shaped and in 2011 elaboration of the detailed company strategy till 2030 was commenced. The consulting support is provided by McKinsey Company.
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