Wesfin Energy is developing a utility-scale Battery Energy Storage System (BESS) project with a planned capacity of 40MW / 160MWh in Progresivka, Mykolaiv region, Ukraine. The project is strategically located near an existing 35 kV substation and transmission line, enabling a cost-efficient grid connection and fast-track implementation. The land plot (~2 hectares) is secured, with local stakeholder alignment in place.
The BESS is designed as a fully merchant, grid-scale asset with a multi-revenue model:
- Energy arbitrage on the Day-Ahead Market (DAM) and Intraday Market (IDM)
- Participation in balancing market services (aFRR/mFRR equivalent mechanisms)
- Potential future participation in ancillary services markets as regulatory frameworks evolve
Ukraine’s electricity market demonstrates significant hourly price spreads and volatility, driven by renewable intermittency, limited flexibility assets, and ongoing system imbalances. This creates a strong economic case for BESS assets with fast response time and high cycling capability (1 cycle/day+).
The project will be executed in a modular, phased approach (4 × 10MW / 40MWh blocks) using 20ft liquid-cooled containerized battery systems (~5MWh per unit). This architecture ensures:
- scalability and flexibility in deployment
- optimized logistics and transportation
- redundancy and operational resilience
- simplified maintenance and future augmentation
From a technical standpoint, the system will include:
- Lithium Iron Phosphate (LFP) battery technology (targeting 6,000–8,000 cycles)
- Centralized or string-type Power Conversion Systems (PCS)
- Advanced Energy Management System (EMS) for real-time market optimization
- Integrated fire protection and safety systems compliant with international standards
The BESS will be connected via step-up transformers to 35 kV, with future optional expansion to higher voltage integration depending on grid operator requirements.
The total estimated CAPEX is €35–45 million, with cost optimization potential depending on supplier selection, localization, and financing structure. Wesfin Energy is currently in active discussions with leading global OEMs and system integrators from China and the European Union (including Huawei, Sungrow, CATL ecosystem partners, and others).
The project is structured to accommodate flexible investment formats, including:
- equity participation
- project finance / debt structuring
- strategic partnerships or joint ventures
From a strategic and geopolitical perspective, the project contributes to:
- energy resilience and decentralization of Ukraine’s power system
- integration of renewable energy sources (solar and wind)
- reduction of curtailment and balancing costs
- alignment with ENTSO-E standards and EU energy transition goals
Additionally, BESS plays a critical role under current conditions by providing fast-response grid support in case of infrastructure disruptions, enhancing system reliability and recovery capability.
The project is currently in the advanced development phase, including technical design, supplier engagement, and preparation for grid connection agreements and permitting. Target timeline for initial phase commissioning is 12–18 months from financial close.
Wesfin Energy is actively seeking strategic investors and partners to co-develop and scale this project, with potential pipeline expansion beyond the initial 40MW platform.