Ukrainian agricultural holding Kernel has signed a 100 million euro credit agreement with the Export and Investment Fund of Denmark to build a 94.5 megawatt wind power plant in central Ukraine.
Kernel's press service announced that the deal was completed with the participation of Danish Minister for Business and Competitiveness Martin Lidegaard. The financing is being provided through a dedicated EIFO program designed to support investments in Ukraine.
The facility will become Kernel's first wind energy project and will feature 21 modern wind turbines supplied and installed by Danish wind manufacturer Vestas. The development also incorporates industrial energy storage systems engineered to balance power production during peak demand hours.
Securing Operations and Food Exports
Kernel Chief Executive Officer Yevhen Osypov said a stable energy supply for the company's operational assets would ensure the fulfillment of its international contracts. He noted that maintaining these export commitments directly supports global food security, in which Ukraine plays a critical role, while representing a vital step toward modernising Ukraine's energy infrastructure.
Kernel operates as Ukraine's largest agricultural exporter and accounts for 10 percent of total global sunflower oil exports. In the 2025 financial year, the company delivered eight million tonnes of agricultural products to international markets, generating 10 percent of Ukraine's total foreign currency revenue from commodity exports.
Danish Financing and Wind Technology
EIFO serves as Denmark's national export and investment agency. Since the outbreak of war in Ukraine, the agency has funded more than 30 domestic projects. The agreement with Kernel marks the second wind generation project backed by EIFO in Ukraine as part of a wider effort to bolster the country's power sector.
Vestas stands as one of the world's leading wind energy companies, boasting more than 203 gigawatts of installed generation capacity globally. Across Ukraine, Vestas currently maintains 888 megawatts of wind capacity either fully installed or under active construction.
National Renewable Energy Targets
The renewable investment comes as Ukrainian national grid operator Ukrenergo estimates that the country requires four gigawatts of new wind generation capacity and 3.8 gigawatts of solar power capacity to stabilize its electricity grid.
Ukraine's National Action Plan for Renewable Energy through 2030 sets a target to expand total installed wind power capacity across the country to 6.2 gigawatts. Government strategic plans also project that Ukraine will establish its first offshore wind farms before the end of the decade.
