This year, the Cabinet of Ministers of Ukraine plans to allocate more than ₴880 million in grant funds to implement innovative reactive power control systems (STATCOM) and ensure their physical protection.
This was announced by First Deputy Prime Minister of Ukraine and Minister of Energy Denys Shmyhal, according to Ukrinform. In February, the partners increased the amount of grant funding under the “Second Power Transmission Project” investment initiative to $240 million. This government decision provides the legal basis for using a portion of the funds to install STATCOM systems and ensure their protection. The changes were made to Resolution No. 534 of the Cabinet of Ministers of Ukraine dated May 10, 2024.
According to Shmyhal, STATCOM systems are necessary to stabilize voltage in power grids, prevent emergencies, and avoid cascading blackouts. They also increase the resilience of the power system during peak loads, aid in recovery from Russian attacks, facilitate the integration of renewable energy sources, reduce electricity losses, and expand opportunities for cross-border electricity trade.
The minister emphasized that such systems are an important component of modern power grids in the EU and the U.S. Their implementation is part of Ukraine’s commitments to integrate into the European energy market and synchronize with ENTSO-E.
Shmyhal thanked the European Bank for Reconstruction and Development, the International Development Association, and international partners for their support in implementing this project.
