Kyivstar, a leading Ukrainian telecom operator and subsidiary of VEON Ltd., finalized the purchase of 100 % of LLC SUNVIN 11 on December 16 2025. The transaction, valued at UAH 347.57 million (≈USD 8.24 million), brings 12.9 MW of solar generation to Kyivstar’s portfolio, marking the company’s first foray into renewable energy.
The acquisition is a key component of Kyivstar’s $1 billion investment program in Ukraine for 2023‑2027, which targets connectivity, energy resilience, and digital business expansion. By owning solar assets, Kyivstar can offset volatile electricity costs, reduce its carbon footprint, and secure a reliable power supply for its network infrastructure.
Kyivstar serves more than 23 million mobile customers and over 1.1 million home‑internet subscribers as of the end of 2024, a sharp increase from the 3.6 million figure cited in earlier reports. The new solar plant is expected to supply electricity equivalent to roughly 4 % of Kyivstar’s annual consumption, providing a measurable hedge against grid instability.
Management highlighted the strategic fit of the deal. CEO Oleksandr Komarov said the investment “contributes to the development of renewable energy in Ukraine while enabling Kyivstar to enhance operational and financial stability.” He added that the solar capacity, combined with existing batteries, generators, and Starlink Direct‑to‑Cell satellite connectivity, will keep the network running during outages.
The market reacted positively to the announcement. VEON’s shares rose 2.35 % on the day of the disclosure, and Kyivstar Group shares climbed 2.09 % in pre‑market trading, reflecting investor confidence in the company’s long‑term commitment to Ukraine’s digital and energy infrastructure.
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