KNESS Energy’s Balancing Group has a new member

Our Balancing Group continues to develop and scale in terms of the participants number.

KNESS Energy’s Balancing Group (BG) has a new member, namely “Orivska” Wind Farm LLC, a part of the Eco-Optima group of companies. This is additionally 54 MW of wind generation to the total portfolio of our BG facilities.

Currently, KNESS Energy’s Balancing Group includes 20 renewable generation facilities with an installed capacity of 130 MW. This is a “win-win” interaction between all members of the balancing group, as it is possible to significantly optimize their own imbalances and clearly calculate the planning horizon of their business due to financial discipline in payments.

KNESS Energy was one of the first companies on the market to organize a balancing group of renewable energy producers. Due to the significant experience in the electricity market and the team’s qualifications, the BG has been steadily functioning and developing since 2019.

“KNESS Energy’s Balancing Group (BG) is an association of electricity market participants within which our company is fully responsible for the electricity balance of all its members. This cooperation model makes it possible to save up to 80% of the imbalances settlement costs for the group members. In addition, our company, as a trader, guarantees to buy back the entire volume of electricity produced and make timely payments for it. Such financial discipline allows the business to operate stably,” noted Serhii Kravchuk, Director of Electricity Trading and Supply in KNESS.

Eco-Optima is the largest group of companies in western Ukraine engaged in the development and implementation of renewable clean energy sources, creation of generating capacities using wind, solar, water, and biomass energy.