One of the recent challenges of space physics is the study of processes having place during lightning discharges. A dedicated microsatellite named CHIBIS ("lapwing" in English) is under preparation for launch in 2010, which contains two space instrumentation units: "Thunderstorm" and "Wave Package". A special efficiency of this project is expected because not only the direct observation of lightning, but also the synchronized study of triggered by them wave processes both onboard the satellite and at ground support stations will be carried out. This will give unprecedented opportunity to monitor the development of the lightning mechanism from its generation till the relaxation in the form of electromagnetic (EM) waves. In frames of EM experiment onboard of CHIBIS the measurements of electric and magnetic fields and electric current density will be performed. Special attention is paid at the ULF-VLF frequency range. These waves play a major role in the interactions in the system "magnetosphere-ionosphere-atmosphere- lithosphere" and their study is essential to monitor them. The project scientific goals as well as Wave Package onboard instrumentation are described.