Ukrainian agribusiness group Kernel has secured €100 million in financing from the Export and Investment Fund of Denmark (EIFO) to build its first wind power plant, the company announced on August 25.
The loan agreement provides financing for the construction of a 94.5 MW wind farm in central Ukraine. The funds are being provided under a dedicated EIFO program aimed at supporting investment and Ukraine’s economic recovery.
The wind farm will comprise 21 wind turbines to be supplied and installed by Danish company Vestas, one of the world’s largest wind turbine manufacturers. In addition to electricity generation, the project includes industrial-scale energy storage systems that will be used to balance generation and provide additional capacity during periods of peak demand.
The agreement was signed with the participation of Denmark’s Minister for Business and Competitiveness, Martin Lidegaard. Since the start of Russia’s full-scale invasion, EIFO has financed more than 30 projects in Ukraine. Kernel’s wind farm will become the second wind energy project in Ukraine to receive financing from the Danish fund.
Ukraine is also an important development market for Vestas. The company has more than 203 GW of installed wind capacity worldwide. In Ukraine, Vestas accounts for approximately 888 MW of capacity either already installed or currently under construction.
The wind investment forms part of Kernel’s broader renewable energy development program. The company is also installing solar panels at its grain storage facilities and developing a 106 MW solar power plant in southern Ukraine.
The expansion of its own power generation capacity is aligned with Kernel’s long-term ESG strategy, which focuses on decarbonizing production processes, reducing dependence on external electricity supplies and mitigating energy-related risks. As part of one of its projects, the company plans to begin with a pilot 250 kW solar installation and subsequently increase its capacity by several dozen times.
Renewable energy investment has become one of Kernel’s key areas for attracting external financing. In April 2026, the company secured $45 million in financing from the European Bank for Reconstruction and Development (EBRD), its first such financing since the start of the full-scale war. The funds were allocated to a solar energy project.
Kernel is one of Ukraine’s largest agribusiness groups and one of the world’s leading exporters of sunflower oil. Following the start of the full-scale invasion, the company was forced to significantly restructure its logistics due to the blockade of Ukrainian ports and instability in the operation of the grain corridor. At the same time, the agribusiness group began investing more actively in its own energy infrastructure to reduce dependence on external energy supplies.
Kernel’s operating performance in the 2026 financial year indicates continued strong activity in its core business. In the third quarter of the financial year, covering January–March 2026, the company increased oilseed processing and transshipment volumes through its seaport terminals despite periodic operational disruptions caused by air-raid alerts.
Oilseed processing increased by 17% year-on-year during the quarter to 986,000 tonnes. The company attributed the growth primarily to stable sunflower seed supply on the domestic market. Sunflower oil sales increased by 7% over the same period to 373,000 tonnes.
