Kernel plans to invest $400 million in energy projects over two years – CEO
“Kernel” plans to invest approximately $400 million over the next two years in wind and solar power generation, as well as energy storage systems, with a total capacity of approximately 600 MW.
Kernel, one of Ukraine's largest agricultural holdings and elevator operators, intends to invest approximately $400 million in the energy sector over the next two years, Interfax-Ukraine reported, citing the company's CEO Yevgen Osipov.
According to Osipov, the company is planning large-scale wind and solar power generation projects, as well as energy storage systems (ESS) with a total capacity of about 600 MW. The holding is currently in the process of attracting financing from international financial organizations, in particular from the EBRD.
The CEO of the agricultural holding recalled that Kernel began investing in energy back in 2018, when it invested $230 million in cogeneration. Currently, all of the company's assets are fully supplied with its own “green” energy, which meets international standards and EU regulations.
Commenting on the debt burden, the CEO noted that at the beginning of the full-scale invasion, the company had about $700 million in liabilities to international banks and Eurobond holders.
“We do not have a large liquidity reserve, despite the significant figures in our accounts. When we have $500-600 million, it is only a month's worth of work for the company with a billion-dollar turnover. (...) We are always looking for a balance between external and internal debt,” he explained.
Osipov also stressed that he does not share the strategy of completely minimizing loans. In his opinion, it is necessary to invest in transparency and ESG standards, which will allow attracting large long-term capital for the transition to a new stage of development.
As reported, in January 2026, during the World Economic Forum in Davos, Yevgen Osipov announced Kernel's strategic goal of becoming a leading player in the green energy sector. At that time, the company confirmed the implementation of its first pilot project for a 20 MW solar power plant and plans to build a 250 MW solar power plant in the Chernivtsi region. In the 2025 annual report, Andriy Verevsky, the majority owner of the agricultural holding, noted that the company's approach to investments in renewable energy remains cautious, but the holding is exploring opportunities to expand its presence in the wind, solar generation, and energy storage sectors.
Kernel is the world's largest producer and exporter of sunflower oil, the largest exporter of grain from Ukraine, an operator of an extensive network of logistics assets, and a leading producer of grain and oilseeds in Ukraine. It is one of the largest producers and sellers of bottled oil in Ukraine. It is also engaged in the cultivation and sale of agricultural products.
In fiscal year 2025 (FY, July 2024 – June 2025), Kernel supplied 8 million tons of agricultural products to the global market. The agricultural holding company received $238 million in net profit, which is 42% more than in FY 2024. Consolidated revenue reached $4.115 billion, which is 15% more than in the previous financial year.
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