Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

World News

Russian-hit power firm warns repairs could take 18 months

by March 31, 2024
March 31, 2024
Russian-hit power firm warns repairs could take 18 months

KYIV — The head of Ukraine’s largest private energy firm, DTEK, said on Saturday that five of its six plants had been damaged or destroyed with 80% of its generating capacity lost after two weeks of Russian attacks and that repairs could take up to 18 months.

Russian missile and drone attacks hit thermal and hydro power plants in central and western Ukraine overnight on Friday.

Ukrainian President Volodymyr Zelensky, in his nightly video address on Saturday, said Russia was carrying out “vile strikes” designed to cause the “bleeding” of Ukrainian energy.

“America, Europe, our other partners, everyone knows what we need,” he said. “Everyone knows how important it is right now to help us protect ourselves from these strikes.”

DTEK, which meets about a quarter of the country’s needs, has seen its thermal power stations and other facilities repeatedly hit by Russian missiles, drones and artillery in more than two years of war.

DTEK Executive Director Dmytro Sakharuk said in remarks shown on national television that waves of attacks on March 22 and March 29 had hit thermal and hydro production “in almost all regions” and that distribution facilities were destroyed.

“To be specific, five out of six of our stations were severely damaged, some units were destroyed, some were damaged by 50% or more,” he said.

“This applies to both the western regions and the central regions, and both the equipment necessary for the production of electricity and for transmission from the station to the grid were damaged,” he said.

His company suffered losses amounting to $300 million for equipment alone, he said, while labor costs would require as much as half as much again. “We have determined that 80% of the available generating capacity is not working now,” he added.

A senior official at the Centrenergo generating company said the 10-unit Zmiivska thermal plant in northeastern Kharkiv region had been destroyed in the March 22 attacks.

DTEK spent $110 million restoring 10 blocks hit by Russian attacks last year, Mr. Sakharuk said, with two-thirds of those now destroyed again.

It will require months of repairs, he said, and in some cases as long as a year and half.

“It takes time to manufacture a turbine or a generator or a transformer, so you need be prepared for the fact that the power will return gradually,” he said. — Reuters

previous post
China’s March factory activity expands for first time in six months
next post
Canada to train troops from Caribbean nations for Haiti mission

Related Posts

Russia says new South Korean sanctions are ‘unfriendly,’...

April 4, 2024

Japan unexpectedly slips into recession, Germany now world’s...

February 15, 2024

New Zealand accuses China of hacking parliament, condemns...

March 26, 2024

Putin warns the West: Russia is ready for...

March 13, 2024

Lawmakers urge Biden to call out more Chinese...

April 2, 2024

United States faces ‘increasingly fragile world order,’ spy...

March 12, 2024

China militia presence increases in South China Sea,...

February 29, 2024

US, Japan, Philippines strike deals on defense, investment...

April 12, 2024

South Korea to suspend military agreement with North...

June 3, 2024

Australia lifts minimum wage as families grapple with...

June 3, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • GOP outperformed Dems on voter registration in key battleground states, new analysis reveals

      May 21, 2025
    • Target calls price hikes a ‘very last resort’ for offsetting tariffs as sales slump

      May 21, 2025
    • Will Vance remark about US bailing on Ukraine encourage Putin to sink nascent peace talks?

      May 21, 2025
    • DAVID MARCUS: The invisible hand that governed America during Biden years

      May 21, 2025
    • Controversial office vacant for first time in nearly a decade, but emerging secrets haunt those involved

      May 21, 2025
    • South African-born Musk evoked by Trump during meeting with nation’s leader: ‘Don’t want to get Elon involved’

      May 21, 2025

    Categories

    • Business (1,222)
    • Politics (5,657)
    • Stocks (904)
    • World News (455)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved