Kernel has signed a EUR 100 million loan agreement with Denmark's Export and Investment Fund (EIFO) to finance the construction of its first wind power project - the 94.5 MW wind farm in central Ukraine.
The financing is provided under EIFO's dedicated programme supporting investments in Ukraine.
The wind farm will consist of 21 modern wind turbines supplied and installed by Vestas, a global leader in wind energy technology. The project also includes industrial battery energy storage systems to help balance power output during peak hours. Deploying distributed renewable energy assets like this is part of a broader strategy to decentralize Ukraine's power system - making it significantly more resilient to wartime security risks than traditional centralized generation.
"EIFO's financing is an important signal to the international investment market. This agreement confirms that even amid the full-scale war, Ukraine remains a country where major private investment projects can be implemented. For Kernel, this 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 ensures the fulfilment of our international contracts. This, in turn, supports global food security - an area where Ukraine plays a critically important role. For Ukraine, this is another step toward the modernization of its energy infrastructure," said Yevgen Osypov, CEO of Kernel.
Project preparation included a comprehensive international environmental and social risk assessment, conducted in line with global best practices.
The development of renewable energy is one of Kernel's strategic priorities alongside its core agribusiness operations. The company consistently invests in projects that enhance operational resilience and strengthen energy security. For example, Kernel is installing solar panels at its elevators and building a 106 MW solar power plant in southern Ukraine.
Once completed, the project will strengthen the energy independence of Kernel's production assets while adding new clean generation capacity to Ukraine's power system.
About
EIFO (Export and Investment Fund of Denmark) is Denmark's national export and investment agency, financing international projects involving Danish companies and supporting investments that contribute to sustainable economic development.
Vestas is a global leader in wind energy, with more than 189 GW of installed capacity across 88 countries.