EBRD provides $45 million financing to Kernel for 106 MW solar plant in Ukraine

The European Bank for Reconstruction and Development (EBRD) committed $45 million in financing to Kernel for the development of a 106 MW solar power plant in Ukraine. The project, located in a conflict-affected region, aims to generate 141 GWh of renewable electricity annually, directly addressing energy security challenges amid ongoing Russian attacks on critical infrastructure. Kernel, a major agribusiness company operating in Ukraine, will use the funds to stabilize local power networks and support over 10,000 employees through improved energy access. The solar plant represents one of the largest renewable energy initiatives in Ukraine since the escalation of the war in 2022, signaling continued private-sector investment despite wartime conditions. The financing structure includes long-term debt terms tailored to the high-risk environment, with EBRD acting as the sole lender in this transaction.

Counterparts (2)

borrower

K

Kernel

company · 1 deals

Lender

European Bank for Reconstruction and Development

company · 7 deals

The European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that invests in projects in emerging economies across three continents. It supports projects that promote private sector development, sustainable infrastructure, and the transition to a green economy.