USNIC Key Mover Update Denetek to Develop Private Small Modular Nuclear Reactors in Ukraine and Support Wider Eastern European Adoption

October 5, 2023

USNIC Key Mover Update Denetek to Develop Private Small Modular Nuclear Reactors in Ukraine and Support Wider Eastern European Adoption

October 5, 2023

Denetek LLC, a partnership between U.S. decarbonization investment vehicle Eney LLC and leading private Ukrainian energy group DTEK, announces its intent to develop SMRs in Ukraine – helping strengthen regional security and accelerate the transition to net zero.

Denetek intends to deploy small modular reactors (SMRs) across a number of sites in Ukraine currently housing DTEK coal-fired thermal power stations. The company’s approach combines capital and expertise from the private sector with Ukraine’s long-standing nuclear experience, Western SMR technology, and DTEK’s grid-connected sites.

This plan is also designed to complement the vision of Ukraine’s Energy Ministry – to strengthen regional energy security and decarbonize Ukraine’s energy sector (specifically thermal generation) by deploying nuclear generation. Denetek believes Ukraine can become a clean energy powerhouse for Europe. Leveraging private sector capital and expertise will be critical in realizing this ambition.

Denetek is employing guidance provided by EPRI—an independent, non-profit energy research and development institute—to inform technology selection and project design. EPRI’s nuclear research portfolio encompasses activities to inform the reliable operation and maintenance of operating nuclear power plants and support the development and deployment of advanced reactors to meet energy needs and help decarbonize the energy sector.

EPRI Senior Vice President for Energy System Resources and Chief Nuclear Officer Neil Wilmshurst said, “SMR technology could revolutionize the industry by potentially driving down manufacturing costs for the next generation of nuclear power plants. Advanced nuclear technology represents an option for helping achieve carbon reduction goals while producing the energy so vital to society. EPRI believes that projects such as Denetek’s can substantially help advance SMR adoption and accelerate decarbonization in Ukraine and the region.”

Denetek has narrowed its selection of prospective SMR vendors to a shortlist of the most mature, cost-effective, and safe technologies. The company looks forward to making final selection announcements soon.

Denetek is also working to lay the foundation for the region’s SMR industry by growing and integrating local supply chains for SMRs to enable rapid and efficient implementation of the technology both in Ukraine and in other countries. Working closely with a growing number of Ukrainian nuclear supply chain companies, it is accelerating the deployment of SMRs in Europe by tapping into Ukraine’s established nuclear generation expertise and components manufacturing, which is an integral part of a cost-effective and secure SMR development everywhere in the world.


DTEK Group is the largest private investor in Ukraine’s energy sector. DTEK Group employs 55,000 people. Its group companies are involved in coal and natural gas production; electricity generation from wind, solar, and thermal power plants; energy resources trading in local and international markets; distributing and supplying electricity to consumers; providing energy efficiency services to customers; and developing high-speed charging station networks. DTEK Group is fully owned by SCM, a leading investment company with equity interests in energy, metals & mining, telecommunications, banking, transportation, sport, real estate, trading, agriculture, and other commercial sectors.


Eney is a US-based investment vehicle dedicated to advancing the Energy Transition in Ukraine and other Eastern European and Central Asian jurisdictions. Eney leverages the business and policy expertise of its management led by former U.S. diplomat and U.S. Department of Commerce energy advisor Suriya Jayanti. Attracting and channeling international investments, Eney is planning to play a key role in regional decarbonization. Its goals are to replace high greenhouse gas emission assets with clean alternatives, generate carbon neutral electricity or fuels, capture CO2 and other emissions, and build electricity storage capacity to enhance energy resilience.