NPC Ukrenergo and Swedish Ingrid Capacity signed a memorandum of understanding providing for the joint development of energy storage technologies in Ukraine.

"I signed a memorandum of understanding with Ibrahim Baylan, a member of the board of the Swedish company Ingrid Capacity. This company specializes in the development of energy storage systems in northern Europe and is interested now, even before our victory, in developing such technologies in the Ukrainian energy system," head of Ukrenergo Volodymyr Kudrytsky wrote on Facebook on Tuesday after signing a memorandum during the Rebuild Ukraine conference in Warsaw.

According to him, Ukrenergo, for its part, is ready to contribute as much as possible to this process by providing the necessary information and helping to integrate energy storage into the Ukrainian energy system.

"Our modeling shows that 0.8 GW of energy storage systems are needed over the next few years to further grow and balance the green energy system," the CEO said.

As Kudrytsky explained, Ukrenergo has now fully repaid the debt for auxiliary services, which are one of the main sources of income for the creation of energy storage.

"And now we are negotiating with the regulator (the National Energy and Utilities Regulatory Commission) regarding auctions for long-term (3-5 years) contracts for ancillary services, so that the investor can attract credit capital for such contracts," he noted.

As Minister of Energy of Ukraine Herman Haluschenko, in whose presence the memorandum was signed, commented, it is important to start such partnership projects today, without waiting for the Ukrainian victory in the war.

"Thank you to the Swedish partners for their support of the Ukrainian energy sector and this example of cooperation. In particular, for their assistance in restoring and strengthening the grid according to the highest international standards and the latest technologies," the ministry's press service quotes him as saying in a release.

According to the Minister of International Cooperation and Foreign Trade of Sweden, Johan Forssell, who was also present at the signing of the memorandum, and quoted by the press service of the Ministry of Energy, today cooperation begins between Swedish energy companies and Ukrainian partners, which has extraordinary prospects for expansion.