Billion-Dollar Alliance for Ukraine: DTEK and Octopus Energy Launch the RISE Distributed Energy Project

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Ukrainian energy company DTEK and British technology group Octopus Energy have established a joint venture that will finance and implement a €100 million program called “Project RISE.” The initiative, which involves the large-scale deployment of rooftop solar installations and energy storage systems, aims to make Ukrainian hospitals, schools, and businesses independent from crippling power blackouts.

What is Project RISE?

RISE (Resilient Independent Solar Energy) is the first initiative of its kind in Ukraine, aimed at radically decentralizing the country’s power system. Over the next three years, the program is expected to deliver 100 local solar-and-battery projects for the public sector and private enterprises.

The concept was developed in June 2025, and pilot deployments carried out by DTEK’s retail brand YASNO have attracted significant market interest. The newly formed company is intended to become a platform that will attract long-term foreign capital over the next five years, which is necessary for the country’s reconstruction.

Decentralization as a shield against blackouts

The urgent need to reduce dependence on centralized power sources is critical. As a result of systematic Russian attacks on critical infrastructure, as much as 70% of Ukraine’s thermal power generation capacity has been damaged, destroyed, or seized. The situation is further worsened by extremely high financing costs, which have so far effectively blocked private investment in the energy sector.

Shifting electricity generation from large, vulnerable power plants to distributed local rooftop systems is crucial for national security. It ensures continuity of operations for strategic facilities such as hospitals, factories, public offices, and shopping centers, even in the event of a complete disconnection from the national grid.

Zero-upfront-cost business model

The new joint venture offers a unique financing model in which customers do not bear any upfront investment costs:

  • Installation and equipment – the YASNO brand is responsible for installing solar panels and battery storage systems.
  • Energy management – British partner Octopus Energy integrates the systems with its advanced AI-powered Kraken operating platform. The algorithms optimize electricity consumption in real time, reduce costs during peak hours, and automatically sell excess energy back to the grid.
  • Ownership and financing – investments are funded by banks and dedicated investors with support from international grants and guarantees. After a 10-year contract period, the infrastructure is transferred to the customer’s ownership.

Both companies hold equity stakes in RISE and are currently in advanced discussions with several financial institutions to fully launch the operating budget. This strategy aligns with the long-term plan of DTEK shareholder Rinat Akhmetov, focused on building international technology alliances to support Ukraine’s reconstruction and resilience.

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