Ukraine will add 30 MW of electricity storage systems, as a Ukrainian bank provides KNESS with a €9.6M loan.

Oschadbank has signed an investment loan agreement for nearly six years with international Ukrainian company KNESS in the amount of €9.6M to both finance and refinance the construction and commissioning costs of energy storage facilities (ESF). The EBRD is participating in the project’s risk sharing.

This project involves constructing and connecting energy storage facilities to the electricity grid, which will provide a frequency support reserve with a 25 MW capacity and an automatic frequency restoration reserve for symmetrical loading and unloading with a 5 MW capacity in the ancillary services market. The transmission system operator will guarantee the purchase of these services.

The necessity to develop new electricity storage capacities arises from the extensive destruction of shunting generation and advancements in alternative energy technologies.

Currently, the KNESS group of companies is simultaneously carrying out seven projects for ESF construction across three regions of the country, totaling a certified capacity of 84 MW.