Kyivstar Acquires 105 MW Solar Capacity for $80.8M

Kyivstar Group Ltd. has significantly amplified its commitment to renewable energy, finalizing the acquisition of six solar power facilities in Ukraine's Lviv region. This strategic move, valued at USD 80.8 million (UAH 3.6 billion), injects a substantial 105 megawatts (MW) of installed capacity into the company's green energy portfolio, marking an almost ninefold expansion.

The transaction, which received the green light from the Antimonopoly Committee of Ukraine in March 2026, encompasses facilities previously operated under entities including Enerhopostach-Plus LLC, Lightful, Sunlight Generation, Ternovytsia Solar, Energy Space, and Ternovytsia Solar Plus. These assets collectively generated approximately 113 gigawatt-hours (GWh) of electricity during the fiscal year 2025, contributing an estimated UAH 682 million in revenue and UAH 596 million in EBITDA.

This acquisition follows Kyivstar's initial foray into the renewable energy sector in December 2025 with the purchase of the 13 MW Sunvin 11 solar power plant. With the addition of these new assets, Kyivstar's total operational solar generation capacity now reaches 118 MW. This substantial increase means that renewable sources now account for 30 percent of the company's annual energy consumption, a critical step towards greater energy independence and sustainability.

The Ukrainian energy market is undergoing a significant transformation, with a growing emphasis on diversifying energy sources and enhancing grid resilience. Investments in solar power, in particular, are gaining momentum as the country seeks to rebuild and modernize its infrastructure while reducing reliance on traditional energy imports. The current regulatory framework supports the integration of renewable energy into the national grid, providing a stable environment for such investments.

Kyivstar intends to channel 100% of the electricity produced by these newly acquired solar farms into Ukraine's unified energy system. This integration will occur under existing market and regulatory guidelines, ensuring a smooth transition and contribution to the national power supply. The move underscores a broader trend among large corporations to secure their energy needs through direct investment in renewable generation, mitigating price volatility and environmental impact.

The acquisition of these six solar plants represents a significant capital deployment for Kyivstar, signaling a clear strategic direction towards a more sustainable operational model. By nearly tripling its renewable generation capacity in a single transaction, the company is positioning itself as a key player in Ukraine's green energy transition. This expansion not only bolsters Kyivstar's own energy security but also contributes to the national objective of increasing the share of renewables in the country's energy mix.