Kyivstar Expands Renewable Energy Portfolio with Solar Plant Acquisition
Kyivstar Acquires Six Solar Power Plants, Further Diversifies Energy Sources
Image: Benzinga
Kyivstar Group Ltd. has acquired six solar power plants in Lviv region, Ukraine, for UAH 3.6 billion (approximately $80.8 million). This acquisition increases Kyivstar's renewable energy capacity to 118 MW, producing about 30% of its annual electricity needs and supporting the national grid.
- 01The six solar plants have a combined capacity of 105 megawatts (MW) and generated approximately 113 GWh of electricity.
- 02Kyivstar's total investment in renewable energy now stands at UAH 3.6 billion ($80.8 million), enhancing its operational efficiency.
- 03The company aims to supply green energy to Ukraine's national grid, benefiting from market prices and green energy tariffs.
- 04Kyivstar's renewable energy strategy aligns with its long-term vision of sustainable infrastructure development.
- 05The acquisition is part of Kyivstar's broader commitment to invest in the Ukrainian economy and support its energy sector.
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Kyivstar Group Ltd. has announced the acquisition of six solar power plants located in the Lviv region of Ukraine, marking a significant expansion of its renewable energy portfolio. The company paid UAH 3.6 billion (approximately $80.8 million) for these assets, which collectively have an installed capacity of 105 megawatts (MW). This acquisition boosts Kyivstar's total renewable energy capacity to 118 MW, enabling the company to meet approximately 30% of its annual electricity consumption. The solar plants generated around 113 GWh of electricity, contributing UAH 682 million in revenue and UAH 596 million in EBITDA in 2025. By supplying electricity to Ukraine's unified energy system, Kyivstar aims to enhance its operational efficiency and hedge against electricity costs through green energy tariffs. President Oleksandr Komarov emphasized the importance of renewable energy in Kyivstar's investment strategy, which seeks to build a sustainable and efficient infrastructure while supporting the Ukrainian economy. This move reflects Kyivstar's commitment to diversifying its energy sources and contributing to the stability of Ukraine's energy sector.
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The acquisition enhances Kyivstar's ability to supply renewable energy, contributing to the stability of Ukraine's energy sector.
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