Kernel Secures €100 Million in Financing for 94.5 MW Wind Power Plant
Ukrainian agricultural company Kernel signed a €100 million loan agreement with Denmark’s Export and Investment Fund (EIFO) to finance its first wind energy project, featuring 21 Vestas turbines and industrial energy storage systems in central Ukraine.
Ukrainian agri-business group Kernel has secured €100 million in financing to build its first wind power plant, a 94.5-megawatt project located in central Ukraine. The loan agreement was signed with the Export and Investment Fund of Denmark (EIFO) on August 25, with Danish Minister for Business and Competitiveness Martin Lidegaard presiding over the finalization of the project.
The wind farm will feature 21 advanced wind turbines supplied and installed by Danish manufacturer Vestas, along with industrial battery energy storage systems to balance power generation during peak demand periods. Kernel's CEO, Yevgen Osypov, stated that the EIFO financing sends a strong signal to the international investment market, affirming that large private investment projects can still be implemented in Ukraine, even during a full-scale war.
The development of renewable energy aligns with Kernel's broader strategy to decentralize its power grid and increase resilience to security risks compared to traditional centralized infrastructure. The company is also currently installing solar panels on its grain elevators and constructing a 106 MW solar power plant in southern Ukraine.
EIFO has financed over 30 projects in Ukraine since the onset of the full-scale invasion, with this wind project being its second in the country.
Written by urgent.news from Kyiv Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
