Ukraine will develop a market for energy conservation systems with investments totaling more than $500M.

In 2023, transmission system operator Ukrenergo issued a record 11 sets of technical requirements for the construction of industrial energy conservation systems.

In particular, the largest fuel company, OKKO, plans to build an energy storage system with a capacity of 20 MW. Total investment in the project is estimated at €20-€22M.

In addition to OKKO, in 2023 10 more companies received technical specifications from Ukrenergo in order to construct an energy storage system. Among them is the Vinnytsia energy company Kness and MHP Eco Energy, which plan to use energy storage and a solar power plant for their needs. In total, Ukrenergo issued technical specifications for 1,129 MW of energy conservation systems.

It is predicted that the first industrial energy storage will be built in Ukraine this year. The main reason for business interest in industrial batteries is the decreased cost of energy storage technologies. It is reported that 756 MW of capacity will require more than $544M in investments.