Energy RTB 2 LLC, a subsidiary of agricultural holding Kernel, plans to raise a loan of up to $45 million (approximately €38 million) from the EBRD to implement renewable energy projects. In addition, the project may receive co-financing in the form of a parallel loan of up to $10 million, as well as partial first-loss risk coverage from the European Union under the Investment Programme for Ukraine (UIF).
The program is aimed at supporting the green transition of Ukraine’s economy, the development of urban environmental infrastructure, energy efficiency, greener logistics, the introduction of green technologies in industry, commercial activity and construction, as well as the accelerated recovery of companies affected by the war.
Kernel views this move as part of its strategy to enter the renewable energy market. According to the holding’s CEO Yevhen Osypov, the company plans to invest around $400 million in the energy sector over the next two years. A $20 million pilot project has already been implemented, and Kernel is now preparing large-scale wind and solar generation projects, as well as energy storage systems (ESS), with a combined capacity of around 600 MW.
In particular, the company has already completed its first pilot solar power project with a capacity of 20 MW, while its plans include the construction of a 250 MW solar power plant in Chernivtsi region. Kernel is attracting financing for these large-scale projects from international financial institutions, including the EBRD.
Kernel is known as the world’s largest producer and exporter of sunflower oil, a leading grain exporter from Ukraine, and an operator of an extensive logistics asset network. The company is also one of the country’s largest producers and sellers of bottled oil and is engaged in the cultivation of grain and oilseed crops.
The company’s financial performance has shown some correction over the past six months: in the first half of fiscal year 2026 (July–December 2025), Kernel’s net profit fell by 33% compared with the same period a year earlier, to $119 million; consolidated revenue totaled $1.924 billion, down 1% year-on-year; and EBITDA declined by 14%, to $247 million.
Thus, attracting EBRD financing and participating in EU funding programs are part of Kernel’s strategic plan to diversify its business and enter the renewable energy market, while supporting the company’s resilience and the development of Ukraine’s green economy.
