en.Wedoany.com Reported - On June 25, 2026, British energy supplier Octopus Energy and Ukraine's largest private energy company DTEK announced a joint venture to advance a new project called Project RISE, planning to invest €100 million in building rooftop solar and battery energy storage systems across Ukraine.
Octopus Energy is the UK's largest electricity supplier, with operations spanning renewable energy, electric vehicle sales and leasing, and has expanded into energy markets in France and Texas. The joint venture will enable Ukrainian businesses and public sector organizations to generate and store electricity on-site, reducing the impact of blackouts amid ongoing Russian attacks on large-scale energy infrastructure. The new facilities will integrate Octopus Energy's Kraken battery management system, which allows customers to cut peak-hour electricity usage and sell surplus power back to the grid, thereby lowering electricity bills. The joint venture will install equipment at zero upfront cost, with customers gaining ownership of the equipment after the ten-year contract period ends.
"When old-school energy companies look at Ukraine and see too much risk, we see a country building the most resilient, forward-looking energy system on Earth," said Greg Jackson, CEO of Octopus Energy. "Distributed solar and batteries are the ultimate shield against infrastructure attacks. When every roof is its own power station, you cannot destroy the grid. By combining DTEK's unparalleled determination with our technology, we are not just helping keep the lights on today; we are proving that decentralized green energy systems are the fastest way to build a secure future."
The joint venture paves the way for DTEK and Octopus Energy to secure long-term financing for a large-scale rollout of Project RISE. The two companies are in negotiations with multiple financial institutions for project financing, with both parties holding equity in the joint venture.
"Today marks a significant milestone for Project RISE," said Maxim Timchenko, CEO of DTEK. "Strengthening our partnership with Octopus Energy creates a platform to scale the project over the next five years and attract the investment needed for long-term success. The future of Ukraine's energy relies on a more decentralized, flexible, and resilient system. While many still view Ukraine as a risk, our partners at Octopus rightly see an opportunity to build a stronger energy system through innovation and collaboration."
DTEK is part of System Capital Management (SCM), an international investment company founded by Ukrainian businessman and philanthropist Rinat Akhmetov, with a portfolio spanning over 250 enterprises in more than 30 countries. The partnership aligns with Akhmetov's long-term commitment to Ukraine's recovery, with SCM stating that he prioritizes international cooperation that brings investment, technology, and expertise to Ukraine.
Project RISE (Resilient Independent Solar Energy) is the first initiative of its kind in Ukraine, aiming to deliver 100 on-site solar and battery storage projects at businesses and public institutions over the next three years, raising €100 million in funding. Since Russia launched military operations against Ukraine, 70% of the country's thermal power capacity has been damaged, destroyed, or occupied. The joint venture plans to secure financing through banks and investors, supported by grants and guarantees. YASNO, another division of SCM, will install solar panels and batteries, while Octopus Energy will connect them to its AI-driven Kraken operating system.
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