VEON’s Kyivstar Invests in Renewable Energy in Ukraine with Acquisition in Solar Power Company

Rhea-AI Summary

VEON (Nasdaq: VEON) announced that Kyivstar (Nasdaq: KYIV; KYIVW) has acquired 100% of LLC SUNVIN 11, adding 12.9 MW of solar generation capacity to its energy resilience investments on December 16, 2025.

Electricity from the solar facility will be supplied to Ukraine’s national grid under applicable market and regulatory frameworks. Kyivstar said the acquisition is its first investment in renewable energy, aims to partly hedge against energy cost volatility and improve operational stability, and is expected to incrementally reduce Kyivstar’s carbon footprint.

The deal advances Kyivstar’s and VEON’s pledge to invest USD 1 billion into Ukraine (2023–2027) across connectivity, energy resilience, and digital businesses.

Positive

• 12.9 MW of solar generation capacity added
• Kyivstar’s first renewable energy investment
• Advance of a USD 1 billion Ukraine investment commitment (2023–2027)

Negative

• None.

Key Figures

Solar capacity added 12.9 MW Capacity of LLC SUNVIN 11 facility acquired by Kyivstar

Ownership acquired 100% Kyivstar stake in LLC SUNVIN 11

Ukraine investment plan USD 1 billion Kyivstar and VEON commitment for 2023–2027

Share price $52.34 VEON price before news publication

Daily price change 2.35% Move over prior 24 hours pre-news

Today’s volume 75,132 shares Trading volume vs 20-day average of 100,501

200-day MA $49.37 Long-term moving average level

Price vs 52-week high -18.22% Distance from 52-week high of $64

Market Reality Check

$52.34 Last Close

Volume Volume 75,132 is below the 20-day average of 100,501 (relative volume 0.75). normal

Technical Price 52.34 is trading above the 200-day MA at 49.37, indicating a pre-news uptrend.

Peers on Argus

VEON’s 2.35% gain contrasts with mixed, modest moves among telecom peers (e.g., TDS -1.54%, PHI +0.73%), suggesting a company-specific reaction to Kyivstar’s solar acquisition rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 11	Fintech license win	Positive	+0.1%	Banglalink approval to operate as a payment service provider in Bangladesh.
Dec 10	Industry awards	Positive	+0.8%	Recognition for JazzCash, Kyivstar and Jazz at World Communication Awards.
Dec 10	Index inclusion	Positive	+0.8%	Addition to S&P Global BMI and MSCI Ukraine Index boosting visibility.
Dec 08	AI data center plan	Positive	+0.2%	Beeline Kazakhstan breaking ground on Tier III hyper cloud data center.
Dec 01	National LLM project	Positive	-2.6%	Kyivstar to lead development of Ukraine’s national LLM using Google Gemma.

Pattern Detected

Recent strategic and innovation updates have typically produced modest price changes, with mostly small positive reactions and one notable negative divergence.

Recent Company History

Over the past weeks, VEON has reported multiple strategic milestones. On Dec 11, Banglalink secured payment service provider approval, with VEON citing 42.1 million digital finance users and 25% growth. On Dec 10, the company highlighted global award recognition and major index inclusions, both followed by small gains around 0.8%. Earlier in December, Kyivstar’s role in a national LLM project saw a -2.62% move. Today’s Kyivstar solar acquisition continues the theme of infrastructure and digital ecosystem investment, especially in Ukraine.

Market Pulse Summary

This announcement adds 12.9 MW of solar generation to Kyivstar’s network, marking its first direct investment in renewable energy and contributing to a broader USD 1 billion Ukraine commitment for 2023–2027. It supports energy resilience, partial hedging of power costs, and an improved carbon footprint. In context of recent digital, AI, and fintech initiatives, investors may watch how this and prior acquisitions integrate operationally, as well as updates in 6-K filings on cash, leverage, and Ukraine-related risks.

Key Terms

solar generation capacity technical

"has acquired 100% of LLC SUNVIN 11, adding 12.9 MW of solar generation capacity"

Solar generation capacity is the total amount of electricity a solar power installation or portfolio can produce at its maximum output, usually measured in watts or megawatts. Investors care because capacity signals the scale of potential revenue and impact on grid supply—think of it like the horsepower of a fleet of delivery vans: more capacity means more product (electricity) to sell, higher potential earnings, and greater influence on energy markets and company valuation.

carbon footprint technical

"The solar power facility is also expected contribute to an incremental improvement in Kyivstar’s overall carbon footprint."

The carbon footprint measures the total greenhouse gas emissions a company causes directly and indirectly, expressed as a single tally of carbon dioxide-equivalent. Investors care because it’s like a company’s emissions “utility bill”: higher footprints can mean bigger future regulatory costs, reputational damage, and operational changes as the economy shifts to cleaner energy, all of which can affect profitability and long-term value.

satellite connectivity technical

"combined with the recent introduction of Starlink Direct to Cell satellite connectivity and ongoing installations"

Satellite connectivity is the delivery of voice, data and internet services through orbiting satellites instead of ground-based cables or cell towers, like having Wi‑Fi from space that reaches remote areas and moving vehicles. Investors care because it can create new revenue streams, expand markets where traditional networks don’t reach, and offer network backup or global coverage; at the same time it involves high upfront costs, regulatory approvals and technology risk that affect profitability and growth forecasts.

AI-generated analysis. Not financial advice.

Dubai and Kyiv, December 16, 2025: VEON Ltd. (Nasdaq: VEON), announces that Kyivstar (Nasdaq: KYIV; KYIVW), Ukraine's leading digital operator, has acquired 100% of LLC SUNVIN 11, adding 12.9 MW of solar generation capacity to its energy resilience investments.

The acquisition marks Kyivstar’s first investment into renewable energy. Electricity generated by the solar facility will be supplied to Ukraine’s national grid in accordance with applicable market and regulatory frameworks.

The acquisition will enable Kyivstar to participate in Ukraine’s country-wide energy resilience, while also supporting Kyivstar’s operational and financial foundations by partially hedging against volatility in energy costs and dependability. The solar power facility is also expected contribute to an incremental improvement in Kyivstar’s overall carbon footprint.

“Investing in renewable energy is a strategic step that contributes to the development of renewable energy in Ukraine while enabling Kyivstar to enhance operational and financial stability. This investment, combined with the recent introduction of Starlink Direct to Cell satellite connectivity and ongoing installations of batteries and generators to directly power Kyivstar’s network mean that our customers can rely on us for connectivity and innovative digital services,” said Oleksandr Komarov, CEO of Kyivstar.

This acquisition represents further progress on Kyivstar’s and VEON’s commitment to invest USD 1 billion into Ukraine over 2023-2027, including through investments in connectivity, energy resilience, and Kyivstar’s portfolio of innovative digital businesses.

About Kyivstar
Kyivstar Group Ltd. is a Nasdaq-listed holding company that operates JSC Kyivstar, Ukraine’s leading digital operator and the first Ukrainian company to have its shares traded on a U.S. stock exchange. Kyivstar Group’s operations span a broad range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, and enterprise solutions such as Big Data, cloud, and cybersecurity. Together with VEON, Kyivstar intends to invest USD 1 billion in Ukraine between 2023-2027, through investments in infrastructure and technological development, charitable donations and strategic acquisitions. For more information, please visit https://investors.kyivstar.ua. Nasdaq tickers: KYIV; KYIVW

About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 150 million connectivity and 120 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.

Forward-Looking Statements
This release contains “forward-looking statements”, within the meaning of the 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. Such forward-looking statements include, but are not limited to, the impact of LLC SUNVIN 11 on Kyivstar’s operating, financial and sustainability performance. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to the timing and impact of the impact of LLC SUNVIN 11 on Kyivstar’s operating, financial and sustainability performance, among others discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.

Contact Information

VEON 
Hande Asik
Chief Communications and Strategy Officer
pr@veon.com

FAQ

What did VEON announce about Kyivstar's solar acquisition on December 16, 2025?

VEON said Kyivstar acquired 100% of LLC SUNVIN 11, adding 12.9 MW of solar capacity.

How will the 12.9 MW solar facility supply electricity under the Kyivstar acquisition?

Electricity will be supplied to Ukraine’s national grid in line with applicable market and regulatory frameworks.

Does the Kyivstar solar acquisition affect VEON’s investment pledge in Ukraine (VEON)?

Yes; the acquisition is described as progress toward VEON and Kyivstar’s USD 1 billion investment plan for Ukraine (2023–2027).

How does Kyivstar expect the solar purchase to impact its operations and costs (KYIV)?

Kyivstar expects the acquisition to help partially hedge energy cost volatility and strengthen operational resilience.

Will the Kyivstar solar investment change its carbon footprint (KYIVW)?

The company expects the solar facility to contribute to an incremental improvement in Kyivstar’s overall carbon footprint.

Is the Kyivstar purchase of SUNVIN 11 Kyivstar’s first renewable energy investment (KYIV)?

Yes; the announcement states this is Kyivstar’s first investment into renewable energy.