The Ukrainian Wind Energy Association (UWEA), which represents all wind electricity producers in the country, announced on Tuesday (31 October) that the state-owned JSC Energy Company of Ukraine (ECU) has become its member.
Both sides will work together to increase profitability and reduce the risks for “green” companies in the free energy market, the UWEA said in a press release.
ECU offers a comprehensive proposal for renewable energy producers, which allows for direct access to the competitive energy market in Ukraine, optimises imbalances and stabilises their economic models. This includes a guaranteed off-take of electricity according to the forecasted schedule and balancing services in ECU’s balancing group, said the UWEA.
“Cooperation with renewable energy producers is one of the strategic priorities of ECU. By joining UWEA, we are expanding the dialogue within the industry about the next steps for developing green energy production in Ukraine and solving the investment problems in this field,” said Vitaliy Butenko, CEO of ECU.
ECU has signed contracts with “leading renewable energy producers” and is currently among the three largest green energy traders on the free market in Ukraine.
“UWEA participants have already been selling electricity on the free market, taking advantage of its opportunities. I am confident that the experience and expertise of the ECU team, currently the only state-owned company in our association, can multiply these benefits,” said Andriy Konechenkov, Chairman of the Board of the UWEA.