Kernel Secures €100 Million Danish Loan for Ukraine’s First Corporate Wind Farm

Ukrainian agribusiness giant Kernel has signed a €100 million credit agreement with Denmark’s Export and Investment Fund (EIFO) to finance its debut wind energy venture — a 94.5 MW plant in central Ukraine, built amid active hostilities.

The facility will feature 21 turbines supplied by Danish manufacturer Vestas, complemented by industrial battery storage systems to smooth output during periods of peak grid demand. Once operational, the plant will serve both Kernel’s own industrial facilities and feed surplus generation into the national grid.

For EIFO, this marks a second Ukrainian wind project in its wartime portfolio. The fund has backed more than 30 separate initiatives in Ukraine to date across various sectors.

Kernel CEO of renewable energy Yevhen Osipov said the deal signals that “Ukraine remains a country where large private investment projects can be implemented” despite the full-scale war.

Wind power fits into a broader clean-energy push by the company. Kernel has been installing solar panels across its grain elevator network and is developing a separate 106 MW solar station in southern Ukraine. The wind project represents the agro-industrial sector’s first foray into wind generation in the country, extending the geography of private green investment beyond state-linked or utility-scale players.

The transaction illustrates sustained appetite among international development financiers for Ukrainian infrastructure outside the public sector, with private agricultural and industrial companies increasingly stepping into roles traditionally filled by state energy utilities.

Source: Elevatorist.com