Kernel secures €100 million to build its first wind farm

Kernel has secured €100 million in credit financing from Denmark’s Export and Investment Fund (EIFO) to build its first wind farm, with a capacity of 94.5 MW, in central Ukraine.

The financing is being provided under EIFO’s special programme supporting investments in Ukraine. The loan agreement was signed in the presence of Denmark’s Minister for Business and Industry Morten Bødskov.

The wind farm will comprise 21 turbines supplied and installed by Danish company Vestas. The project will also include industrial energy storage systems to balance electricity generation during peak hours.

Kernel said the development of distributed renewable generation would strengthen the resilience of Ukraine’s energy system against wartime risks.

“EIFO financing is an important signal for the international investment market. This agreement confirms that even amid a full-scale war, Ukraine remains a country where major private investment projects can be implemented,” Kernel CEO Yevgen Osypov said.

Investments in renewable energy are also expected to strengthen the energy resilience of Kernel’s assets and ensure stable operations, he added.

Renewable energy is one of Kernel’s strategic areas alongside its core agricultural business. The company is already installing solar panels at its grain elevators and is building a 106 MW solar power plant in southern Ukraine.

Once commissioned, the new wind farm will have a capacity of 94.5 MW, strengthening the energy independence of Kernel’s production assets and increasing renewable generation capacity in Ukraine’s power system.

• In October 2025, Kernel announced plans to build a 250 MW solar power plant in Ukraine’s Chernivtsi region, which would be the largest solar plant in western Ukraine.
• In April 2026, the European Bank for Reconstruction and Development provided financing to Kernel for the first time since Russia’s full-scale invasion. The agricultural group received a $45 million loan to build a solar power plant in southern Ukraine.