VEON’s Kyivstar Extends Energy Resilience of Network
Rhea-AI Summary
VEON's subsidiary Kyivstar is enhancing its network resilience in Ukraine by deploying an additional 848 industrial generators and 61,766 batteries. This investment aims to ensure service continuity during extended power blackouts caused by attacks on Ukraine's energy infrastructure. Kyivstar has already deployed 2,322 generators and 115,000 four-hour duration batteries at base stations.
The company has invested over USD 24 million in energy resilience over the past two years. This new deployment is part of Kyivstar's strategy to support critical connectivity across Ukraine, including facilities requiring at least three days of generating capacity during comprehensive power outages.
VEON and Kyivstar have committed to invest USD 1 billion in Ukraine over a five-year period from 2023 to 2027. Kyivstar was recently recognized as Ukraine's largest foreign investor in 2022 and 2023 by Forbes Ukraine and received the GSMA's Global Mobile Award for its Network Resilience Project at MWC 2024.
Positive
- Kyivstar is investing in 848 additional industrial generators and 61,766 batteries to enhance network resilience
- The company has already invested over USD 24 million in energy resilience over the past two years
- VEON and Kyivstar have committed to invest USD 1 billion in Ukraine from 2023 to 2027
- Kyivstar was recognized as Ukraine's largest foreign investor in 2022 and 2023 by Forbes Ukraine
- Kyivstar received the GSMA's Global Mobile Award for its Network Resilience Project at MWC 2024
Negative
- Extended power blackouts in Ukraine due to attacks on energy infrastructure pose challenges to network operations
News Market Reaction – VEON
In the trading session that priced this news, VEON gained 2.41%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Kyivstar addresses power blackouts with industrial-grade generator fleet
Amsterdam and Kyiv, 17 July 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that its wholly owned subsidiary Kyivstar continues to invest in resilient connectivity for Ukraine, with plans to deploy and additional 848 industrial generators and 61,766 batteries to enable service continuity during the extended blackouts caused by attacks on Ukraine’s energy infrastructure.
From the outset of the war, resilience has been a major focus of Kyivstar’s strategy to maintain crucial communication services and safeguard digital operations. Kyivstar has deployed 2,322 generators and 115,000 four-hour duration batteries at base stations to provide backup power during blackouts. Today’s announcement that Kyivstar plans to deploy an additional 848 stationary industrial generators and 61,766 new batteries is a further investment building on the earlier efforts to support the business continuity of the operator’s network.
"Energy resilience and preparedness against blackouts have been at the centre of our investment priorities since the end of 2022. Consistent and significant investment of over USD 24 million over the last two years has helped us improve energy resilience. However, the changing nature of threats to Ukraine’s energy infrastructure and extended blackouts now necessitate a reinforcement in our strategy. This second wave of focus on energy resilience will enable Kyivstar to support critical connectivity with even further resources dedicated to energy resilience," explains Oleksandr Komarov, CEO of Kyivstar.
The power backup systems will be deployed throughout the country, including at critical facilities that require at least three days of generating capacity in the event of a comprehensive power outage.
VEON and Kyivstar, which was recently named Ukraine’s largest foreign investor in 2022 and 2023 by Forbes Ukraine, announced their commitment to invest USD 1 billion in Ukraine over a five-year period from 2023 to 2027 at the Ukraine Recovery Conference in Belin. Kyivstar was recognised at MWC 2024 with the GSMA’s Global Mobile Award for “Best Mobile Innovation Supporting Emergency or Humanitarian Situations” for its Network Resilience Project that has overcome significant challenges to keep Ukraine connected through voice, data and digital services.
About Kyivstar
Kyivstar is the largest telecommunications operator in Ukraine with 24 million mobile subscribers and over 1.1 million home internet subscribers. As Ukraine’s market-leading operator, Kyivstar maintained network availability above the
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
Disclaimer
This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s digital products, commercial plans and partnerships. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
TUVA Partners
Julian Tanner
Julian.tanner@tuvapartners.com
