Ukraine’s largest digital telecom operator is entering the renewable power sector, framing the move as both a resilience play and a hedge against unstable energy conditions that can disrupt connectivity.
VEON Ltd. (NASDAQ:VEON) said its subsidiary Kyivstar Group Ltd. (NASDAQ:KYIV) has acquired 100% of LLC SUNVIN 11, adding 12.9 megawatts of solar generation capacity and marking Kyivstar’s first investment in renewable energy.
The electricity produced by the facility will be supplied to Ukraine’s national grid under applicable market and regulatory frameworks.
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Kyivstar stated that the purchase supports broader energy resilience, while also helping the operator manage volatility in power costs and reliability.
What Kyivstar’s CEO Said
“Investing in renewable energy is a strategic step that contributes to the development of renewable energy in Ukraine while enabling Kyivstar to enhance operational and financial stability,” said Oleksandr Komarov, CEO of Kyivstar.
He said the renewable push complements the progress in satellite connectivity and the continued installation of batteries and generators, which are meant to keep Kyivstar’s network running.
This acquisition represents further progress on Kyivstar’s and VEON’s commitment to invest USD 1 billion into Ukraine over 2023-2027, including through investments in connectivity, energy resilience, and Kyivstar’s portfolio of innovative digital businesses.
Related Regional Push
VEON has also highlighted resilience-driven tech upgrades elsewhere, including Beeline Kazakhstan’s milestone of placing the first Starlink Direct-to-cell satellite call.
Price Action: Kyivstar Group shares were up 2.09% at $15.08 during premarket trading on Tuesday, according to Benzinga Pro data. VEON was up 0.88%.
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