Kernel secures €100 mln for wind farm construction in Ukraine

Kernel has secured €100 mln in financing from the Export and Investment Fund of Denmark (EIFO) to build its first wind farm. The 94.5 MW facility will be located in central Ukraine. The financing is being provided under EIFO’s special program supporting investments in Ukraine.

The wind farm will consist of 21 turbines supplied and installed by Vestas. The project will also include industrial-scale energy storage systems to help balance electricity generation during peak hours. Once operational, the wind farm is expected to strengthen the energy independence of Kernel’s production assets and add new distributed generation capacity to Ukraine’s power system.

The company stressed that stable energy supply for its agribusiness assets is particularly important during the war, allowing it to maintain uninterrupted production and fulfill international contracts. According to Kernel CEO Yevhen Osypov, the financing also demonstrates that large private investment projects can still be implemented in Ukraine despite the current conditions.

Renewable energy is one of Kernel’s strategic investment priorities 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. The new wind project will be the next step in diversifying the company’s energy supply.

Since the start of the full-scale war, EIFO has financed more than 30 projects in Ukraine. Kernel’s wind farm will be the second Ukrainian wind power project financed by the Danish fund. For Vestas, which already has 888 MW of wind capacity installed or under construction in Ukraine, the project will further expand its presence in the Ukrainian market.

Tags: Ukraine, Кернел