Kernel Secures €100 Million in Financing for 94.5 MW Wind Power Plant

Ukrainian agri-business group Kernel has signed a €100 million ($116 million) loan agreement with the Export and Investment Fund of Denmark (EIFO) to finance the construction of its first wind power plant, the company announced in a press release on Aug. 25.The 94.5-megawatt (MW) project, located in central Ukraine, was finalized in the presence of Danish Minister for Business and Competitiveness Martin Lidegaard. Funding is provided under a dedicated EIFO program designed to support investments in Ukraine.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official.The facility will feature 21 advanced wind turbines supplied and installed by Danish wind manufacturer Vestas. The infrastructure will also include industrial battery energy storage systems to balance power generation during peak demand periods.According to the company, the development of distributed renewable generation is in line with Ukraine’s broader strategy to decentralize its power grid and increase its resilience to wartime security risks compared to traditional centralized infrastructure.“EIFO financing is an important signal for the international investment market. This agreement confirms that even during a full-scale war, Ukraine remains a country where large private investment projects can be implemented. For Kernel, it is a logical continuation of our long-term strategy to develop renewable energy and strengthen the energy resilience of our business. Stable energy supply for our assets allows us to fulfill international contracts, supporting global food security where Ukraine plays a critical role,” Yevgen Osypov, CEO of Kernel, as quoted in the press release. Other Topics of Interest Russian Drone Strike Sets Zaporizhzhia Apartment Building Ablaze Flames engulfed apartments after a Russian drone hit a residential high-rise during an overnight attack on the southeastern Ukrainian city. The project underwent an international environmental and social assessment in line with global standards prior to approval. The development of renewable energy is a key strategic priority for Kernel, alongside its core agribusiness activities.The company is currently installing solar panels on its grain elevators and is building a 106 MW solar power plant in southern Ukraine. When completed, the new wind farm will increase the energy independence of Kernel’s production facilities while contributing clean capacity to the national grid.EIFO has financed more than 30 projects in Ukraine since the start of the full-scale invasion, with the Kernel deal being its second wind project in the country. Vestas currently has more than 888 MW of wind capacity installed or under construction in Ukraine.Kernel is the world’s largest producer and exporter of sunflower oil, accounting for 10% of global exports, as well as a leading grain exporter from Ukraine and a major operator of agricultural logistics facilities.The company, which has been operating since 1995, exported 8 million tonnes (8.8 million tons) of agricultural products to global markets in the financial year 2025, and its shares have been traded on the Warsaw Stock Exchange since November 2007.