Ukraine’s largest mobile operator, Kyivstar, is intensifying its business diversification and entering the renewable energy sector through the acquisition of a portfolio of solar power plants in Lviv region.
The company announced the purchase of six solar power plants with a combined installed capacity of 105 MW for UAH 3.6 billion, or around $80.8 million. The sellers of the assets have not been disclosed. However, the Antimonopoly Committee of Ukraine had earlier approved the transaction for the acquisition of the solar plant operating companies, including Enerhopostach-Plius, Lightful, Sunlight Generation, Ternovytsia Solar, Energy Space, and Ternovytsia Solar Plus.
Kyivstar says that the development of green generation has become one of the strategic directions of its investment portfolio. According to CEO and President Oleksandr Komarov, investments in renewable energy allow the company not only to expand beyond the telecom market, but also to partially cover its own electricity consumption through clean generation.
Including the previously acquired 13 MW Sanvin 11 solar power plant in Zhytomyr region, purchased in December last year, Kyivstar’s total portfolio in the renewable energy sector has increased to 118 MW. According to the company’s estimates, this generation volume is equivalent to around 30% of the operator’s current annual electricity consumption.
The company emphasizes that the electricity generated will be supplied to Ukraine’s integrated power system under market rules. This will allow Kyivstar to partially hedge against electricity price volatility and build a more resilient energy cost model.
Investments in solar generation are also viewed as part of the company’s ESG strategy and as a contribution to strengthening Ukraine’s energy resilience amid heavy pressure on the power system.
Kyivstar said it plans to continue investing in projects that combine technological efficiency, sustainable development, and support for the Ukrainian economy.
The deal forms part of the operator’s broader strategy to expand beyond the telecom sector. In the first quarter of 2026, Kyivstar increased EBITDA by 28.5% to UAH 7.5 billion, while revenue rose by 31.3% to UAH 13.9 billion. For full-year 2025, group EBITDA increased by 30% to UAH 27 billion, while revenue grew by 30.3% to UAH 48.2 billion, reflecting a solid financial base for new investments.
