Kyivstar Acquires Six Solar Plants for $80.8M, Expanding Portfolio Ninefold
VEON•VEON’s Kyivstar acquired six solar power plants in Ukraine’s Lviv region with 105 MW capacity for USD 80.8 million, assets that generated 113 GWh and delivered UAH 596 million EBITDA in FY2025. This raises total solar capacity to 118 MW—equivalent to 30% of Kyivstar’s annual electricity needs—and hedges energy costs via green tariffs.
1. Acquisition Details
Kyivstar completed the purchase of six solar power plants in Ukraine’s Lviv region for USD 80.8 million, securing a combined installed capacity of 105 MW. Regulatory approvals preceded the signing of binding documentation earlier the same day, marking Kyivstar’s second major solar investment since December 2025.
2. Financial Performance of the Solar Assets
The acquired plants generated approximately 113 GWh of electricity and produced UAH 682 million in revenue alongside UAH 596 million of EBITDA in FY2025, based on preliminary management accounts. These assets bolster Kyivstar’s financial returns from renewable energy operations.
3. Strategic and Operational Impact
This transaction expands Kyivstar’s renewable portfolio nearly ninefold, lifting total solar capacity to 118 MW—around 30% of its annual electricity consumption. By selling 100% of output to Ukraine’s unified energy system under green tariffs, Kyivstar enhances its ability to hedge electricity costs and support growing connectivity demand.
