Ukrenergo and General Electric signed a memorandum of cooperation providing for joint actions on the research and implementation of projects for the installation of STATCOM devices, construction and modernization of high-voltage substations, said chairman of the board of Ukrenergo Volodymyr Kudrytsky.

According to his Facebook post on Wednesday, the memorandum was signed with the director of GE Energy Power Conversion GmbH (a subsidiary of General Electric) Jörg Nuttelmann.

“One of the new technologies that we plan to use in our network is STATCOM devices. They will significantly enhance the stability of the Ukrainian energy system and ensure the reliability of our connection with the energy system of continental Europe,” Kudrytsky noted.

According to him, such devices are quite actively used by ENTSO-E system operators, and their installation and use in the Ukrainian network is one of the technical measures that Ukrenergo has agreed to implement with its European colleagues.

Kudrytsky noted that General Electric and its subsidiaries are long-time partners of Ukrenergo, thanks to which in the pre-war years joint projects for the modernization and reconstruction of Ukrenergo substations in the east, south and central regions of the country were successfully implemented.

“I am convinced that our further cooperation will be a significant contribution to European energy security,” summed up the head of the system operator.

As reported, in July of this year, Ukrenergo, the Ministry of Energy and the Ministry of Finance signed two agreements with the World Bank to provide the company with grant assistance in the amount of $240 million to improve the reliability of the energy system.

One of them provides for the provision of grant funds to the German government by Ukrenergo, which will be used for the purchase and installation of STATCOM special devices that increase the stable operation of the energy system.