Ukrainian renewable energy developer KNESS has attracted a loan from Oschadbank for €9,6 million

As reported in a press release of Oschadbank. this is a complexly structured project financing agreement consisting of three stages with a term of almost 6 years, with a grace period in accordance with the financial model. The European Bank for Reconstruction and Development (EBRD) participates in the risk sharing of the project, writes inventure.com.ua.

Illustrative photo

It is noted that the project involves the construction and connection to the electricity grid of energy storage facilities to provide a frequency support reserve (FSR) of 25 MW and an automatic frequency restoration reserve with symmetrical loading and unloading (ARVChs) of 5 MW in the ancillary services market in the Unified Power System of Ukraine with guaranteed buyback. The planned commissioning date of the facility is October 2025.

Yuriy Katsion, Deputy Chairman of the Board of Oschadbank, stated that the need to build new electricity storage facilities is caused by both the massive destruction of shunting generation and the development of technologies in alternative energy, and powerful energy storage facilities will allow expanding the use of solar energy and reducing the level of oscillation. The KNESS project with a capacity of 25 MW (RPCh) / 5 MW (arVChs), in the financing of which Oschadbank participates, is one of the first examples of a systematic approach to a new type of business in the energy sector - the targeted construction of frequency regulation capacities next to the substations of NPP Ukrenergo.

Currently, the KNESS group of companies is simultaneously implementing 7 projects for the construction of UZE power facilities in 3 regions of the country with a total certified capacity of RPL - 79 MW and ARVCs - 5 MW.

KNESS is an international group of companies of Ukrainian origin, developing technologies and implementing projects in the field of renewable energy in Ukraine and abroad. The group designs and constructs renewable energy facilities for power companies and industrial enterprises, is engaged in trading, supplying, forecasting electricity, comprehensive service of power facilities, and has its own production of components.

Read also on Newsky "Latvia transfers 1500 new combat drones to Ukraine" and look at "Boring Pence" YouTube channels.

To always be aware of events, subscribe to TG channel Newsky. We also recommend current discussions of friends of Ukraine in North America on Rashkin Report YouTube channels.