Sergii Shakalov, CEO of KNESS on the prospects for energy development in Ukraine at the conference “Europe-Poland-Ukraine: Cooperate Together’25”

Ukrainian businesses are not waiting for ideal conditions, but are already investing millions of euros in the reconstruction and development of new energy, demonstrating resilience even in wartime. This vision was shared by Sergii Shakalov, CEO of KNESS, during his speech at the international conference “Europe-Poland-Ukraine: Cooperate Together’25.”

The event brought together representatives of Ukrainian and Polish business, government agencies, financial institutions, and experts. During the panel discussion “Energy Sector: Development Strategy and Key Projects,” Sergii Shakalov, along with other experts, discussed the challenges and opportunities for transforming Ukraine’s energy sector.

Investments despite risks

Commenting on the issue of attracting investment, the CEO of KNESS emphasized that despite military, economic, and other risks, Ukrainian companies have become accustomed to such conditions, so there is a tendency to invest not only in generation for their own consumption but also in energy projects for various segments of the electricity market.

“Our company has invested over €20 million directly in energy storages and is investing in solar and wind projects. These are business projects, not generation for our own consumption. And we are seeing considerable interest in such projects, particularly in ESS for work in the ancillary services market, but mainly from Ukrainian investors who understand the market specifics. Foreign businesses are still showing more cautious interest, but its there. The business model confirms that this is indeed a profitable area for investment”— mentioned Sergii Shakalov, CEO of KNESS.

Such professional discussions are extremely important because they confirm that, despite all the challenges, Ukraine’s energy sector remains a promising area for investment and a key element of the country’s economic recovery.

We are grateful to the organizers for creating an effective platform for dialogue and partnership.