Kyivstar expands renewable energy footprint with $81 million solar acquisition

Kyivstar Group (NASDAQ:KYIV) announced the acquisition of six solar power plants in Ukraine’s Lviv region for a total consideration of UAH 3.6 billion (approximately $80.8 million), accelerating the telecommunication firm’s vertical integration into sovereign power generation to mitigate localized infrastructure risks.

The Nasdaq-listed holding company, which operates Ukraine’s largest digital network and is part of the international VEON Group, stated that the transaction adds 105 megawatts (MW) of operational capacity to its industrial asset base.

According to internal management accounts, the cluster of six solar facilities generated roughly 113 GWh of electricity during 2025, delivering UAH 682 million in top-line revenue and UAH 596 million in EBITDA.

The acquisition brings Kyivstar's total green energy generation capabilities to 118 MW, incorporating a baseline established during its initial sector entry via the purchase of a 13 MW solar asset.

Management projects that the combined capacity of the expanded renewable footprint will yield electricity output equivalent to approximately 30% of the telecom provider's current aggregate annual power consumption.

Operationally, Kyivstar plans to direct the electricity generated by the newly integrated Lviv installations into Ukraine's unified national energy grid.

The arrangement is structured to function under existing market regulatory frameworks, allowing the group to capitalize on green energy tariffs and prevailing market prices.