Ukraine’s DTEK and Octopus Energy Group have formed a joint venture company to finance the rollout of Project RISE, a €100 million initiative to deploy rooftop solar and battery energy storage systems.
The companies said the project is intended to help Ukrainian businesses and public sector organisations generate and store electricity on site, reducing the impact of power outages caused by continued attacks on the country’s energy infrastructure.
Project RISE was first announced in June 2025. Since then, DTEK’s retail business, YASNO, has launched the product commercially, with the companies reporting strong customer interest.
Reducing energy costs for war ravaged Ukrainians
The installations will combine rooftop solar generation with battery storage managed using Octopus Energy’s Kraken battery management system. According to the companies, the system will enable customers to reduce electricity costs by cutting peak-time consumption and exporting surplus electricity to the grid.
Under the business model, the joint venture will install the equipment with no upfront cost to customers. Ownership of the systems will transfer to customers after the completion of a 10-year contract.
The companies said the agreement establishes the platform needed to secure long-term financing for a large-scale rollout of the project. DTEK and Octopus Energy are currently in discussions with several financial institutions to finance the initiative, with both companies taking equity stakes in the new RISE joint venture.
DTEK chief executive officer Maxim Timchenko said: “Today marks an important milestone for Project RISE. Strengthening our partnership with Octopus Energy creates the platform to scale our project over the next five years and attract the investment needed for long-term success. The future of Ukraine’s energy relies on more distributed, more flexible and more resilient system. While many people still see Ukraine as a risk, our partners at Octopus rightly see an opportunity to build a stronger energy system that can be achieved through innovation and partnership.”
Greg Jackson, founder and chief executive officer of Octopus Energy, said: “While old-school energy companies look at Ukraine and see too much risk, we see a nation building the most resilient, forward-thinking energy system on the planet. Distributed solar and batteries are the ultimate shield against infrastructure attacks – you can’t knock out a grid when every rooftop is its own power station. By pairing DTEK’s unmatched determination with our technology, we aren’t just helping keep the lights on today; we are proving that a decentralised, green energy system is the fastest way to build a secure future.”
Photo: Octopus Energy founder and CEO, Greg Jackson (left) with DTEK CEO Maxim Timchenko
Credit: Octopus Energy Group
