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The Danish organization EIFO announced that it has granted a €100 million ($116.6 million) loan to the Ukrainian agro-industrial holding Kernel. These funds will be used to build a 94.5 MW wind farm in central Ukraine, which will be equipped with Vestas turbines.
Vestas will be responsible for manufacturing and installing the 21 wind turbines for the new facility. The Danish manufacturer had previously included this order in its second-quarter report as an undisclosed transaction.
The new power generation facility, which will also be equipped with energy storage systems, is expected to boost Kernel’s own generating capacity and contribute to Ukraine’s overall energy transition and energy security. A major domestic exporter of sunflower oil is now actively expanding into the renewable energy sector. Kernel’s project is being financed under EIFO’s Ukraine Facility program, marking the fund’s second such investment in wind energy.
EIFO CEO Peter Lundquist noted that after the country lost half of its electricity generation capacity, the main priority has become bringing new facilities online as quickly as possible. He also emphasized that Ukraine’s reconstruction opens up significant opportunities for business, where Danish companies – particularly Vestas – hold leading positions. This benefits Danish industry and plays a critically important role for Ukraine.
Currently, the total capacity of Vestas facilities already built or under construction in Ukraine stands at 1,200 MW.
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