JSC “Energy Company of Ukraine” (JSC “ECU”) has joined the Ukrainian Wind Energy Association (UWEA), which unites 100% of wind energy producers.
The partners will work together to increase profitability and reduce the risks for “green” companies in the free energy market.
The opportunity to operate in the free market has appeared for green producers this year after recent changes in the law. ECU offers a comprehensive proposal for renewable energy producers, which allows for direct access to the competitive energy market in Ukraine, optimize imbalances and overall stabilize their economic models. The offer includes a guaranteed off-take of electricity according to the forecasted schedule and balancing services in ECU’s balancing group.
One-stop sales and optimization solution for the green energy producers eliminates the need to create and operate own trading capabilities. Contracts are signed within a week and payments for purchased energy are made a day before the start of supply.
ECU has already signed contracts with leading renewable energy producers and is currently among the TOP 3 green energy traders on the free market in Ukraine.
“Cooperation with renewable energy producers is one of the strategic priorities of ECU. By joining UWEA, we are expanding the dialogue within the industry about the next steps for developing green energy production in Ukraine and solving the investment problems in this field,” said Vitaly Butenko, CEO of ECU.
“UWEA participants have already been selling electricity on the free market, taking advantage of its opportunities. I am confident that the experience and expertise of the ECU team, currently the only state-owned company in our association, can multiply these benefits,” said Andriy Konechenkov, Chairman of the Board, Ukrainian Wind Energy Association.
References
JSC “Energy Company of Ukraine” (ECU) is a state-owned energy trading company, engaged in operations related to the purchase, sale, and supply of energy resources to commercial clients. The company is 100% state-owned.
ECU operates in both domestic and foreign energy resource markets. The company is also the founder of the first state balancing group of electricity market participants, joined by the country’s largest electricity producer, “Energoatom”.
ECU manages a portfolio of electricity supplies for leading companies of Ukraine, both state-owned and private.
Public Union “Ukrainian Wind Energy Association” (UWEA) is the largest renewable energy industry association in Ukraine. It’s a non-profit organization that serves as the principal communication and cooperation platform for the large-scale adoption of wind technologies in the country and advancing “green” transformation of the Ukrainian energy system and its post-war recovery based on renewable energy.
The UWEA was founded in 2008 to protect the interests and support the activities of both, the national and international stakeholders of the Ukrainian wind energy market. As of the end of 2022, the UWEA unities 82 companies from 14 countries including 100% of wind electricity producers, investors and wind farm developers, equipment manufacturers, construction, consulting and logistic companies, lawyers, and environmentalists.
The UWEA has been closely cooperating with various national, regional and local authorities, and international institutions and organizations including International Energy Agency, International Renewable Energy Agency, BloombergNEF, Wood Mackenzie, REN21. The UWEA is a full member of the WindEurope and World Wind Energy Association.
