KNESS at the Ukraine Recovery Conference 2023

KNESS at the Ukraine Recovery Conference 2023, which brought together representatives of the Ukrainian government, the European Union, international financial institutions, business community, leaders, and experts from various industries, including the energy sector.

Ievgen Didichenko, a co-investor and Chief Business Development Officer of KNESS, spoke at the session “Balancing the energy system in the conditions of the growth of renewable energy sources and decentralization” as part of the side event “Investments in Energy for Green Recovery: Needs and Opportunities”.

Key highlights by our expert:

• War realities have led to the advanced synchronization of the integrated power system of Ukraine with ENTSO-E (the European Network of Transmission System Operators for Electricity). This has updated and reinforced the issue of insufficient quality of power reserves for primary and secondary frequency regulation. The integration of energy storages into the power system can help ensure the stability of the synchronous operation of the IPS of Ukraine with ENTSO-E. Energy storages based on LFP (lithium ferrous phosphate) technology are a tool that can fully meet the market demand for frequency containment reserve and automatic frequency restoration reserve.
• A complete energy transformation of Ukraine with a transition to renewable sources is possible and realistic in the near future. We have the opportunity not to come back to the past, but to build a new generation from renewable energy sources in a balanced way. According to our vision, the key elements of the future power system are the sun, wind, and LDES (long-duration energy storage). Long-term power deficits can be covered by existing maneuverable generation. The only missing element for the implementation of this model is LDES. However, we are confident that this technology will soon move from the research and testing stage to commercialization and market entry.

Among other things, investors, industry leaders, policymakers, and experts jointly exchang