The European Bank for Reconstruction and Development (EBRD) plans to provide a loan of up to $45 million (equivalent to EUR 38 million) to Energy RTB 2 LLC, a subsidiary of the Kernel Group, the bank announced on its website.
“The project is expected to be co-financed by a parallel loan of up to $10 million,” the statement said.
The bank has completed its final review of the project, and approval by the Board of Directors is expected.
The project is expected to receive partial first-loss risk coverage from the European Union under the Ukraine Investment Facility (UIF).
“This program promotes the ‘green’ transition of the Ukrainian economy by supporting sustainable investment in green urban infrastructure, the greening of logistics chains, energy efficiency, and the transfer of ‘green’ technologies in industrial processes, commercial activities, and construction,” the EBRD explained.
The program also provides support to companies directly affected by the military conflict to ensure rapid recovery and resilience to the consequences of the ongoing war.
As reported with reference to Kernel CEO Yevgen Osipov, the company intends to invest approximately $400 million in the energy sector over the next two years,
“We have made a strategic decision to enter the energy sector. Our liquidity is one of the components of these new investments. We already implemented a $20 million pilot project last year, and over the next two years we plan to invest $400 million in this area,” he said.
According to Osipov, the company is planning large-scale projects in wind and solar power generation, as well as energy storage systems (ESS) with a total capacity of about 600 MW. Currently, the holding company is in the process of securing financing from international financial institutions, including the EBRD.
In January 2026, during the World Economic Forum in Davos, Osipov announced Kernel’s strategic goal of becoming a leading player in the green energy sector. At that time, the company confirmed the implementation of its first pilot 20-MW solar power plant project and plans to build a 250-MW solar power plant in the Chernivtsi region.
Kernel Agricultural Holding is the world’s largest producer and exporter of sunflower oil, Ukraine’s largest grain exporter, an operator of an extensive network of logistics assets, and a leading producer of grains and oilseeds in Ukraine. It is one of the largest producers and sellers of bottled oil in Ukraine. It is also engaged in the cultivation and sale of agricultural products.
In the first half of fiscal year 2026 (FY, July–December 2025), Kernel reduced its net profit by 33% compared to the same period in 2025, to $119 million. Consolidated revenue amounted to $1.924 billion, which is 1% less than in the first half of FY 2025. EBITDA fell by 14% to $247 million.
