The agricultural holding Kernel has signed a credit agreement with the Danish Export-Import Investment Fund (EIFO) for €100 million, to be used to finance the construction of the company's first wind energy project — a 94.5 MW wind power plant in central Ukraine. This was reported by RBC-Ukraine, citing the holding's press service. The signing ceremony was attended by Denmark's Minister of Business and Competitiveness, Martin Lidegaard, underscoring the state-level support for the deal from Copenhagen.
The Deal and the Source of Financing
The financing is provided under a special EIFO programme supporting investments in Ukraine. According to the company's assessment, securing funds from the national export-investment agency of an EU member state is an important signal to the international investment market: even amid a full-scale war, Ukraine, in the words of Kernel CEO Yevhen Osypov, remains a country where large private investment projects can be implemented. Osypov emphasized that for the holding this is a "logical continuation of its long-term renewable energy development strategy," and that stable power supply to its assets enables it to fulfil international contracts and, as a result, contribute to global food security.
Technical Parameters of the Project
The wind power plant will consist of 21 modern wind turbines, which will be supplied and installed by Vestas — one of the global leaders in the wind energy sector. The project also provides for the installation of industrial energy storage systems designed to balance electricity generation during peak hours. Project preparation included a comprehensive international assessment of environmental and social risks in line with best global practices, which, according to the company, meets sustainable development standards.
Strategic Context: Decentralization and Grid Resilience
The development of distributed renewable generation assets is part of a broader course toward decentralizing Ukraine's energy system. As noted in the company's materials, decentralized generation makes the energy system more resilient to military risks compared to traditional centralized generation. Once commissioned, the wind plant will strengthen the energy independence of Kernel's production assets and add new clean generation capacity to the country's grid.
The Role of EIFO and Vestas in Ukraine's Energy Sector
EIFO is Denmark's national export-investment agency. Since the start of the war, the fund has financed more than 30 projects in Ukraine, and the Kernel project is the second wind generation project in the country supported by EIFO. The equipment supply partner, Vestas, has more than 203 GW of installed capacity worldwide; in Ukraine it has 888 MW of wind capacity already installed or under construction. Thus, the deal fits into a broader support for Ukraine's energy sector by the Danish fund and international suppliers.
Beyond the Wind Plant: the Holding's Solar Programme
Kernel regards the development of renewable energy as one of its strategic priorities alongside its core agricultural business. In addition to the wind plant, the company is installing solar panels on its grain elevators and building a 106 MW solar power plant in southern Ukraine. It was previously reported that Kernel, together with international partners, is scaling solar autonomy for frontline communities, which complements the overall picture of the holding's consistent investments in operational resilience and energy security.
