“We have made a strategic decision to move into energy. The liquidity we currently have is one of the key components of our new investments, said Kernel CEO Yevhen Osypov.
Kernel has been developing its green energy segment since 2018, investing approximately $230 million in cogeneration. As of early 2026, all company assets are fully supplied with its own renewable energy.
The next stage involves entering the electricity market as a power supplier. To achieve this, the holding plans to implement a large-scale 600 MW wind and solar generation project, including energy storage systems.
In 2025, the company launched a 20 MW pilot solar project.
We believe we can become leaders in energy, Osypov emphasized.
Kernel intends to invest around $400 million of its own funds in expanding its energy capacity over the next two years. At the same time, the company is negotiating with international financial institutions, including the European Bank for Reconstruction and Development (EBRD), to secure external financing.
Kernel is Ukraine’s largest agricultural exporter, with a land bank of 358,000 hectares, proprietary processing facilities, and its own fleet.
For the financial year July 2024 – June 2025: revenue increased by 15% to $4.1 billion; oilseed processing declined by 5% to 1.4 million tons; net profit rose by 42% to $238 million.
At the end of January, the company fully switched its bottled oil production to energy generated from sunflower husk.
For comparison, as of October 2024, Elementum Energy held the largest renewable energy capacity in Ukraine at 631 MW.
Kernel’s decision to expand into generation is viewed as a strategic business diversification amid:
- Ukraine’s integration into the EU energy market;
- the need for greater energy independence;
- the growing importance of ESG factors in international trade.
If the announced 600 MW is realized, Kernel could become one of the largest private renewable energy producers in the country.
