Business news from Ukraine

Business news from Ukraine

Arricano to Invest Over UAH 50 Mln in Upgrading Generators at Shopping Malls

The Arricano Group plans to upgrade the generators at all of its shopping malls in Ukraine, with investments in the project totaling over UAH 50 million, according to Anna Chubotina, CEO of Arricano Real Estate LLC.

“We understand that each facility must have several generators—in case one fails, another must be able to meet the significant power needs of all tenants. Currently, our confirmed investments in generator upgrades will total over UAH 50 million across all projects, including those in Zaporizhzhia and Kryvyi Rih,” she said at the RAU Expo 2026 conference in Kyiv on Thursday.

According to Chubotina, Arricano is considering the possibility of installing a solar power plant at one of its shopping centers in Kyiv. The company plans to implement this project with its own investments next year.
She emphasized that it is important to increase both energy independence and energy efficiency of facilities, which will reduce the burden on shopping center tenants.

“On the one hand, we must ensure the uninterrupted operation of the shopping center, and on the other, reduce the burden on our tenants. Whoever can find this balance will continue to operate successfully,” explained the company’s CEO.
Arricano expects to resume active construction of the Lukianivka shopping and entertainment center in Kyiv after the full-scale war ends, Chubotina noted.

“Currently, our facility is undamaged. It is a priority to resume this project and our plans for the reconstruction of regional facilities once the war ends,” she said.

Arricano Real Estate PLC (Cyprus), through its Ukrainian subsidiaries, owns four shopping centers in Ukraine: the Prospekt shopping center and the RayON shopping center in Kyiv, the CITY MALL shopping center in Zaporizhzhia, and the Soniachna Galereya shopping center in Kryvyi Rih. The company also owns a 49.9% stake in the Sky Mall shopping center (Kyiv) and land plots for the future construction of three properties currently in the design phase. The company is also constructing the Lukianivka shopping center in Kyiv.

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EVA has invested UAH 100 mln in improving energy independence of its network

The EVA chain of stores has invested approximately UAH 100 million in improving the energy independence of its stores, logistics centers, and offices since 2022, purchasing nearly 1,200 generators and installing three rooftop solar power stations, according to the company’s press service.

The backup power system in stores is based on gasoline generators (1,133 units). The company keeps several dozen more generators in reserve to supplement the network or replace them in case of breakdowns. Uninterruptible power supplies based on EcoFlow and other similar systems are also provided. Stores located in shopping centers can obtain the necessary energy from the diesel-generating capacities of the shopping centers.

According to the press service, the share of cashless payments at EVA is over 50%, and the ability to pay for purchases by card even in the event of power outages and mobile communication interruptions is provided through fiber-optic internet. It is connected to store servers that exchange data with the company’s central server and bank POS terminals.

“In the absence of such a channel, a scheme has been implemented to work with data terminals that accumulate data and synchronize with the central server as soon as a connection is available. However, in this case, the use of loyalty program options is limited—bonuses are accrued but cannot be redeemed,” explains Viktor Sredniy, COO of the EVA store chain.

The company’s key distribution centers were provided with independent power supplies (powerful diesel generators) even before 2022. Currently, sufficient diesel fuel reserves have been made to ensure the operation of warehouses during stabilization/emergency shutdowns of the centralized power supply.

As an additional source of energy, solar power plants were installed at the company’s distribution centers in 2025: in Lviv (1,239 panels, 718 kW capacity), Dnipro (791 panels, 459 kW capacity), and Brovary (1,940 panels, 1,125 kW capacity).

According to Mykola Leonov, chief power engineer of the EVA and EVA.UA chain of stores, SES coverage ranges from 17% to 66% depending on the season and warehouse operating mode.

In connection with the expansion of the network and the increase in the company’s logistics capabilities, work continues in the direction of energy independence and energy efficiency. New stores are being equipped with generators on an ongoing basis. There are plans to install a rooftop solar power plant on a new warehouse building in Lviv and to purchase powerful diesel generators for backup power for this building and a new warehouse in Brovary. These facilities are scheduled to be commissioned in 2026.

“We are technically prepared for possible challenges. At the same time, the major risks for the business lie in the unpredictability of the scale and duration of power outages. We cannot maintain significant fuel reserves for each store, and since generators are now used by many companies across the country, simultaneous high demand could lead to a shortage of resources,” says Leonov.

Rush LLC, which operates the EVA chain, was founded in 2002. As of early 2025, the chain had 1,109 stores in operation.

According to YouControl, the owner of Rush LLC is listed as Cyprus-based Incetera Holdings Limited (100%), with Ruslana Shostak and Valeria Kiptika as the ultimate beneficiaries.

At the end of Q3 2025, Rush’s net income increased by 18.6% compared to the same period last year, to UAH 22.916 billion. Net profit decreased by 14.7% to UAH 1.7 billion.

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Kyiv allocates UAH 548 mln for energy independence of water supply systems

Deputies of the Kyiv City Council have approved the allocation of UAH 548 million for the uninterrupted operation and energy independence of water supply and sewage systems in the capital, as well as for increasing the energy independence of these infrastructure facilities.

As reported on the website of the Kyiv City State Administration (KCSA) on Friday, the relevant changes have been made to the economic and social development program of Kyiv for 2024-26.

The Department of Economy and Investments of the KMDA notes that due to constant hostile shelling, the power grids on which the supply and disposal of water in residential buildings, hospitals, schools, kindergartens, and other infrastructure facilities depend are being damaged. Therefore, the funds will be allocated to prevent emergencies, restore and maintain the stable operation of urban water networks.

 

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Foxtrot invested UAH 5.6 mln in backup power supplies, making all stores energy independent

Omnichannel tech retailer Foxtrot has purchased and installed backup power supply equipment worth a total of UAH 5.565 million to ensure uninterrupted operation during 2022-2025. As of October, all stores in the chain are energy independent, the company’s press service told Interfax-Ukraine.

“For Foxtrot, investing in energy independence is a necessary step for the company’s operation and development in the context of full-scale war. This makes it possible to organize the full operation of all services and also fulfills the company’s social mission: to be a local ”point of resilience“ for Ukrainians in difficult times,” the press service noted.

During September-October 2025, Foxtrot conducted an audit of its existing resources in case of repeated blackouts: 36 stores in the chain are equipped with generators; 48 were equipped with various types of uninterruptible power supplies; 44 stores were connected to the backup power supply equipment of landlords in shopping centers/malls. All stores are equipped with powerful charging stations, UPS equipment, additional lighting powered by power banks, etc. This allows cash registers and security systems to be activated and provides sufficient lighting for service.

In September and October, one additional backup generator and six charging stations were purchased.

Thanks to innovations in IT infrastructure implemented in 2023-2024, all of Foxtrot’s core business processes — from placing an order on the website to delivering goods in stores — run on reliable digital platforms and remain stable even in the event of a power outage.

A key element in ensuring the operation of stores is the internal ecosystem and the FoxyHUB mobile application, which allows salespeople to advise customers, process purchases, and accept card payments anywhere in the store or even outside it. For convenience, various digital payment methods are available that do not depend on stationary cash registers or POS terminals: via the seller’s mobile app, LiqPay, QR code, or chatbot in Viber/Telegram. The buyer receives a fiscal receipt immediately in electronic form. In October, Foxtrot is launching tap to phone, which will allow sellers to accept card payments via the customer’s smartphone through the app.

In addition, during power outages, stores offer gadget charging stations and free Wi-Fi.

Foxtrot is one of Ukraine’s largest omnichannel retail chains in terms of the number of stores and sales of electronics and household appliances. As of early October 2025, the company operates 127 stores in 68 cities, the Foxtrot.ua online platform, and the mobile app of the same name.

According to YouControl, the revenue of FTD-Retail LLC (Kyiv), which develops the chain, amounted to UAH 14 billion 882.632 million in 2024, which is 17.6% more than in 2023, and its net profit was UAH 6 million 721 thousand against UAH 314 million 436 thousand, respectively.

The founders of the omnichannel retailer Foxtrot are Ukrainian businessmen Gennady Vykhodtsev and Valery Makovetsky.

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NOVUS invested UAH 385 mln in energy independence of its network

The NOVUS supermarket chain has completed comprehensive preparations for the autumn-winter period to ensure the uninterrupted operation of its stores even in the event of prolonged power outages. The total investment in energy independence and backup solutions amounted to UAH 385 million, according to the company’s press service.

“We realize that the operation of our supermarkets is a matter of Ukrainians’ access to everyday products, even in times of crisis. Therefore, energy independence has become one of the key areas of investment for NOVUS,” the press service quotes Dainius Tumenas, Deputy CEO for Asset Management at NOVUS.

Currently, all NOVUS stores are equipped with generators of various capacities. Their total installed capacity is 33.72 MW, which makes it possible to maintain the network’s operation even during periods of prolonged power outages. The total investment in energy efficiency and energy independence since the start of the full-scale war has reached UAH 385 million, of which UAH 272 million has been allocated to generators.

As noted, one of the breakthrough solutions for Ukrainian retail has been gas generators, which are more environmentally friendly than diesel generators and capable of simultaneously producing electricity, heat, and industrial cooling. The company has installed four units with a total capacity of 3 MW at two of its facilities.

“Gas generators help us remain stable in critical conditions and at the same time move us towards environmental friendliness and energy efficiency,” Tumenas emphasizes.

NOVUS has also formed a strategic reserve of diesel fuel – 168 tons (calculated for six days of autonomous operation of the entire network). In addition, a system of continuous fuel supplies has been established, which allows for a quick response to crisis situations.

At the same time, the company is developing renewable energy. Pilot projects in Novi Petrivtsi (Kyiv region) and at the logistics center have proven the effectiveness of solar panels: in the summer, they covered up to 65% of the supermarket’s energy needs. By the end of 2025, 15 NOVUS facilities will be operating on their own solar power generation with a total capacity of 3.34 MW. The total investment in this area is UAH 78.6 million.

“The future of retail lies in renewable energy sources. This is not only economically beneficial in the long term, but also provides an opportunity to build a more sustainable and responsible business,” explains Tumenas.

To improve energy efficiency in stores, a Building Management System (BMS) is being implemented, which allows remote control of lighting, ventilation, power supply, and other key processes.

An important step in reducing the carbon footprint was the purchase of the first corporate electric vehicles in 2025.

The chain also emphasizes that in the event of power outages, stores remain open not only for shopping but also as a support space where you can recharge your gadgets, warm up, and buy fresh produce.

The Novus supermarket chain is developed by BT Invest (Lithuania), a company founded in 2008 by former Sandora shareholders Raimondas Tumenas and the late Igor Bezzub.

The company is represented in the capital region, Ternopil, and Rivne. As of October 25, the chain has 141 locations (88 Novus, 51 Mi Market neighborhood stores, and two Khapayka discount stores).

According to YouControl, as of October 2025, the owner of Novus Ukraine with a 100% stake in the authorized capital was Consul Trade House CJSC (Vilnius, Lithuania). The ultimate beneficiaries are listed as Marina Poznyakova, Agne Ruzgiene, and Raimondas Tumenas.

According to the company’s financial results, at the end of the first half of 2025, compared to the same period last year, its revenue increased by 21.5% to UAH 16 billion 293.739 million, The company received a net profit of 87.477 million compared to a net profit of 409 million 041 thousand UAH for the first half of 2024.

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OTP BANK offers business loans to strengthen energy independence

JSC “OTP BANK” offers Ukrainian enterprises a number of loan programs that will allow them to become energy independent and ensure uninterrupted business operation in the face of electricity shortages. This was stated by Valeriy Terno, Head of Sales to Medium Corporate Clients at OTP Bank, during a roundtable discussion on energy independence organized by the Financial Club.

“The bank has set itself the goal of stimulating the development of the market for energy-independent solutions and providing support to businesses in financing such projects. We prepare optimal offers and favorable conditions for each client. We are talking about low interest rates and the possibility of implementing them under government programs, as well as cashback, and with additional guarantees from the state, the EBRD, and other institutional investors, we will be able to further expand the decision-making criteria for implementing certain projects. We already have successful cases in this direction,” said Mr. Terno.

In particular, small and medium-sized businesses can count on financial support from OTP Bank under the program “Affordable Loans 5-7-9%”, which is being implemented by the government at the initiative of the President of Ukraine through the Entrepreneurship Development Fund.
Also, the joint program with the European Bank for Reconstruction and Development allows us to offer investment loans to SMEs with the possibility of compensating part of the costs financed by the Bank’s credit funds. This loan can be used for long-term investments in green technologies (energy-efficient equipment, solar panels for power plants to meet their own needs) that meet European Union standards and will help increase the competitiveness of enterprises in domestic and foreign markets. After the implementation of the projects, customers will be able to apply for investment incentives (cash compensation, cashback).

“By installing solar panels or other elements, including gas turbine or gas piston stations, entrepreneurs will be able not only to ensure their own energy independence but also to sell the remaining energy produced to the grid, thereby contributing to the country’s energy security,” added the Head of Sales to Medium Corporate Clients at OTP Bank.

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