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Ukrenergo and Ingrid Capacity sign memorandum for energy storage development in Ukraine

Ukrainian power company Ukrenergo announced last Tuesday (14 November) that it has signed a memorandum of understanding with Swedish energy company Ingrid Capacity on the implementation of energy storage technology projects in Ukraine.

The document “enshrines” Ingrid Capacity’s intention to conduct research on the implementation of energy storage technology projects in the country, Ukrenergo said in a press release.

“During a full-scale war, balancing the power system and integrating renewable energy sources are special challenges for Ukrenergo. They already require modern solutions and investments today. This is evidenced by the forecast of the development of the Ukrainian energy industry modelled by Ukrenergo: within 10 years, the power system will need at least 0.8 GW of energy storage systems. I am confident that our cooperation with Ingrid Capacity will become an example of effective attraction of international investments in the Ukrainian energy industry,” said Volodymyr Kudrytskyi, Ukrenergo’s Chairman of the Management Board.

Mr Kudrytskyi also noted that Ukrenergo is constantly working to create conditions for attracting investments in the development of energy storage technologies for both foreign and Ukrainian companies.

Currently, the company is working on proposals to change regulatory mechanisms that are expected to increase the investment attractiveness of manoeuvring reserve capacities in the Ukrainian grid, in particular, energy storage technologies.

“During Russia’s invasion of Ukraine, the intruder has targeted Ukraine’s energy sector with the obvious aim to damage the power infrastructure and further strain the daily life for Ukrainians. Ingrid Capacity is proud to take part in rebuilding Ukraine, while helping to create a more resilient infrastructure. The cooperation will also give us unique learnings that will be crucial as Ingrid Capacity aims to be part in developing a more robust grid all over Europe,” said Ibrahim Baylan, a member of Ingrid Capacity’s Management Board Ingrid Capacity.

The memorandum was signed by Mr Kudrytskyi and Mr Baylan in Warsaw, Poland last Tuesday.

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