Ukraine's first license for energy storage activities obtained

Budpower company, which is a part of KNESS Group, has received a license for conducting economic activity for energy storage. The decision was ratified today at a meeting of The National Commission for State Regulation of Energy and Public Utilities.

According to the law, energy storage is an activity related to the withdrawal of electricity in order to delay its final use until later, as well as its conversion into another type of energy so it can be stored for further conversion of such energy into electricity for the purpose of its supply to the transmission system, distribution system, power plant grid or consumer grid.

Budpower is the owner of a 1 MW Battery Energy Storage system, which was fully developed, designed, and manufactured in Ukraine by KNESS Group. As an ESS operator, the company plans to provide ancillary services and balancing services to the transmission system operator.

Energy storage systems are a new and innovative product in the balancing and ancillary services market in Ukraine that can and should be developed. The implementation of energy storage facilities will optimize the operation of the electricity market, balance, and increase the resilience of the integrated power system of Ukraine. More importantly, they are one of the main tools for increasing the share of renewable energy sources.

KNESS is constantly working on creating new and optimizing existing energy storage solutions, offering innovative models and products for the development of renewable energy sources, which will accelerate the decarbonization of the energy system and create conditions for energy security and energy independence in our country.