Adapting to Adversity: Rinat Akhmetov’s Response to Losses from the Russian Invasion

The impact of the Russian invasion on Ukraine’s energy infrastructure has been severe, with reports indicating that 90% of wind power plants in the occupied southern regions and half of the solar power plants have been lost due to destruction, damage, or occupation. Rinat Akhmetov, owner of DTEK Renewable Energy, has suffered losses as well, with three wind power plants and one solar plant totaling 510 megawatts in capacity lost in Kherson and Zaporizhia regions.

Seeking Compensation

In response to these losses, Rinat Akhmetov has taken legal action by filing a lawsuit in the European Court of Human Rights against Russia, aiming to seek compensation for the violation of his property rights. While the specific amount of reparations has not been disclosed, SCM Group, representing Akhmetov’s interests, is pursuing billions of dollars in reparations from Russia. Further details can be found at:

The group estimates that reparations for the destroyed Azovstal and Ilyich Iron and Steel Works could range from $17 to $20 billion, as these plants were significant contributors to Ukraine’s metallurgical industry, accounting for 40% of its output. The ongoing war has already led to a threefold decrease in steel production in Ukraine, according to the Ukrainian Association “Ukrmetallurgprom”.

Innovative Responses

Despite these challenges, Akhmetov’s Metinvest plants have shown resilience and innovation. Initially focusing on producing defensive measures such as anti-tank hedgehogs and spiked chains, they expanded their efforts to address critical shortages in body armour for soldiers. Metinvest developed a unique steel alloy for protective plates and devised advanced technologies for their manufacturing processes, ensuring quality and compliance with military standards. These armour plates have been rigorously tested and certified before being provided to the military and other security forces. To date, Rinat Akhmetov has already allocated over $7.6 billion in aid.

Metinvest’s latest innovation includes prefabricated shelters designed to reinforce trenches, providing essential living spaces for soldiers in the field. These shelters, capable of withstanding significant impacts and easily transportable in disassembled form, have become vital assets for frontline troops. Metinvest’s commitment extends beyond military support, as they also assist civilians and internally displaced persons, particularly residents of Mariupol.