Kyivstar Group (KYIV) spends $80.8M on six Lviv solar plants to hedge energy costs
Filing Impact
Filing Sentiment
Form Type
6-K/A
Rhea-AI Filing Summary
Kyivstar Group Ltd. filed an amended Form 6-K to add the aggregate purchase price for its acquisition of six solar power plants in Ukraine’s Lviv region. The total consideration was UAH 3.6 billion, equal to USD 80.8 million.
The acquired plants have 105 MW of installed capacity and produced about 113 GWh of electricity, generating approximately UAH 682 million of revenue and UAH 596 million of EBITDA in 2025 based on unaudited management accounts. Including a prior 13 MW deal, Kyivstar’s green energy capacity reaches 118 MW, enough to cover roughly 30% of its current annual telecom energy consumption.
Kyivstar plans to feed electricity from the plants into Ukraine’s unified energy system at market prices with green tariffs, helping hedge its electricity costs while supporting the country’s renewable energy sector and broader ESG objectives.
Positive
- None.
Negative
- None.
Insights
Kyivstar deploys about $80.8M into Ukrainian solar capacity to hedge energy needs.
Kyivstar Group is investing UAH 3.6 billion (USD 80.8 million) into six solar plants totaling 105 MW, which generated UAH 682 million revenue and UAH 596 million EBITDA in 2025 on unaudited accounts. This adds to an earlier 13 MW solar acquisition.
The company states that post-deal green capacity of 118 MW can cover around 30% of its annual telecom energy consumption. Supplying power into Ukraine’s grid at market prices with green tariffs can partially hedge electricity costs while aligning with stated ESG and infrastructure resilience goals.
The filing highlights an inorganic growth strategy focused on local real assets during capital controls. Future company reports may clarify how these assets perform once fully consolidated, including any updates to revenue, EBITDA, and payback expectations after audit and transaction accounting adjustments.
Key Figures
Purchase price: UAH 3.6 billion
Purchase price (USD): USD 80.8 million
Revenue of acquired plants: UAH 682 million
+5 more
8 metrics
Purchase price
UAH 3.6 billion
Aggregate consideration for six Lviv solar power plants
Purchase price (USD)
USD 80.8 million
Total consideration for six Lviv solar plants
Revenue of acquired plants
UAH 682 million
2025 unaudited management accounts for six solar plants
EBITDA of acquired plants
UAH 596 million
2025 unaudited management accounts for six solar plants
Installed capacity acquired
105 MW
Total installed capacity of six Lviv solar power plants
Electricity generated
113 GWh
Electricity produced by the acquired solar assets in 2025
Total green capacity
118 MW
Kyivstar green generation capacity including Sunvin 11
Energy coverage
30% consumption
Estimated share of Kyivstar’s annual electricity needs covered
Key Terms
EBITDA, non-GAAP/non-IFRS measures, forward-looking statements, green-energy tariffs, +2 more
6 terms
EBITDA financial
"delivering approximately UAH 682 million of revenue and UAH 596 million of EBITDA in 2025"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
non-GAAP/non-IFRS measures financial
"including EBITDA, that are not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) or International Financial Reporting Standards (“IFRS”)"
forward-looking statements regulatory
"This press release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
green-energy tariffs financial
"at market price with green-energy tariffs"
inorganic growth strategy financial
"INORGANIC GROWTH STRATEGY: CREATE VALUE BY ACQUIRING LOCAL ASSETS"
carved-out financial statements financial
"derived from standalone but unaudited carved-out financial statements of the acquired plants"
PRESS RELEASE Kyivstar Acquires Six Solar Power Plants, Further Diversifies Energy Sources Kyiv, New York, May 26, 2026 - Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), the parent company of JSC Kyivstar (“Kyivstar”), Ukraine's leading digital operator and part of VEON Group (Nasdaq: VEON), today announced it is expanding its energy assets with the acquisition of six solar power plants in the Lviv region. The group of six acquired assets has a total installed capacity of 105 megawatts (MW). The total consideration paid is UAH 3.6 billion (USD 80.8 million). The solar assets being acquired generated approximately 113 GWh of electricity, while delivering approximately UAH 682 million of revenue and UAH 596 million of EBITDA in 20251. This acquisition marks another step forward in the development of Kyivstar’s energy generation portfolio. The company began expanding its energy asset base in December 2025 with the acquisition of Sunvin 11 (13 MW). Following the addition of the newly acquired assets, Kyivstar’s green energy generation has increased to 118 MW, enabling it to produce electricity equivalent to approximately 30% of its current annual consumption. Kyivstar will supply electricity produced by the newly acquired solar power plants to Ukraine’s unified energy system in accordance with current market and regulatory rules. This enhances the company’s ability to hedge electricity costs by supplying energy from these solar power plants to the national grid at market prices with green energy tariffs, supporting operational efficiency as connectivity demand continues to expand across Ukraine. “Renewable energy is a key focus area of Kyivstar’s investment portfolio, and this acquisition opens further opportunities for the use of green electricity to meet the company’s energy needs,” said Oleksandr Komarov, President of Kyivstar. “The development of our own energy generation is an important component of our long-term vision aimed at building safe, sustainable and efficient infrastructure. Together with VEON, we continue to increase investments in the Ukrainian economy because we believe in Ukraine and its successful future.” Investments in renewable energy enable Kyivstar to diversify its approach to meeting energy needs and build greater operational stability. With electricity demand growing alongside data traffic expansion, green energy projects support Kyivstar’s long-term energy strategy while strengthening Ukraine’s energy sector and advancing sustainable development goals. Kyivstar will continue to invest in initiatives that combine technological efficiency, alignment with ESG principles and support for the Ukrainian economy. 1 The revenue and EBITDA are based on unaudited management accounts.
The presentation is available on the Kyivstar website here: https://investors.kyivstar.ua/static-files/51167345-3622-4cd7-8e05-1992ce34fbc7 About Kyivstar Group Ltd. Kyivstar Group Ltd. is a Nasdaq-listed holding company that operates JSC Kyivstar, Ukraine’s leading digital operator and the first Ukrainian company to list on a U.S. stock exchange. Kyivstar’s companies provide 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. For more information, please visit https://investors.kyivstar.ua. Nasdaq tickers: KYIV; KYIVW About JSC Kyivstar JSC Kyivstar is Ukraine’s leading digital operator, serving more than 22 million mobile customers and over 1.2 million fixed-line home internet customers as of March 31, 2026. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, cloud solutions, cybersecurity services, digital TV, and more. JSC Kyivstar is wholly owned by Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), shares of which are traded on the U.S. stock exchange Nasdaq. The company contributes to overcoming the challenges of wartime and over the past three years has allocated over UAH 4.4 billion to support the Defense Forces, its subscribers, and the implementation of social projects. JSC Kyivstar has operated in Ukraine for 28 years and is recognized as the largest taxpayer in the digital communications market, a top employer, and a socially responsible company. Additional information: pr@kyivstar.net, www.kyivstar.ua. Disclaimer This press 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. Such forward-looking statements include, but are not limited to, statements relating to, among other things, Kyivstar Group’s strategy and investments in renewable energy, expected solar generation volumes, the anticipated economic effects of the transaction, and the partial hedging benefits described above. There are numerous risks and uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to the acquisition of the six solar power plants in the Lviv region, among others discussed in the section entitled “Risk Factors” included in Kyivstar Group’s annual report on Form 20-F with the U.S. Securities and Exchange Commission (“SEC”) on March 16, 2026, as amended and supplemented from time to time and in any other subsequent filings with the SEC by Kyivstar Group. The forward-looking statements contained herein speak only as of the date of this release and Kyivstar Group disclaims any obligation to update them, except as required by applicable laws. Additionally, this press release includes certain financial information and data of the acquired solar businesses derived from preliminary, unaudited management accounts as of the dates indicated and is subject to completion of customary financial closing, review, and audit procedures. This information is provided for informational purposes only and should not be regarded as a complete
statement of financial results or relied upon as necessarily indicative of historical or future performance.
26CF7F EC2BF72C2C2C text 874BA1 FFC836 numbers F41C3A F7AB08 CE9F11 E5E5E5 F7F7F7 2638902AC2B5 FFFFFF D9D9D9 fill FFFFFF 90% opacity 592C70 0F1F59177769 994AA5 6D307A main pallete 00061A AA6ACC 5C73C667E8D9C382D1 D4ABEF 9BB0EABDFFF5F1D7F7 21E8CF 2949C1EC2BF7 May 26, 2026 | Investor Presentation Kyivstar Group Ltd. ▪ Diversifies energy needs, hedges electricity costs ▪ Supports Ukraine’s renewable energy industry Acquisition of Six Lviv Solar Plants, Combined 105 MW Capacity
26CF7F EC2BF72C2C2C text 874BA1 FFC836 numbers F41C3A F7AB08 CE9F11 E5E5E5 F7F7F7 2638902AC2B5 FFFFFF D9D9D9 fill FFFFFF 90% opacity 592C70 0F1F59177769 994AA5 6D307A main pallete 00061A AA6ACC 5C73C667E8D9C382D1 D4ABEF 9BB0EABDFFF5F1D7F7 21E8CF 2949C1EC2BF7 2 DISCLAIMER AND NOTICE TO READERS This presentation includes certain historical financial information and data relating to the six solar power plants acquired in the Lviv region for periods prior to their acquisition by Kyivstar Group. Such information is derived from standalone but unaudited carved-out financial statements of the acquired plants, was prepared prior to the acquisition, and has not been reviewed or audited by Kyivstar Group’s independent registered public accounting firm. The unaudited historical financial information is subject to further review, revision and transaction-related accounting or other adjustments, and may be revised, potentially materially, and is therefore being provided for informational purposes only. Accordingly, this information may not be indicative of final historical results or future performance. This presentation includes certain financial and operating measures relating to the acquired solar power plants, including EBITDA, that are not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) or International Financial Reporting Standards (“IFRS”). These non-GAAP/non-IFRS measures, and other measures that are calculated using these non-GAAP/non-IFRS measures, are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP or IFRS and should not be considered as an alternative or substitute to those determined in accordance with GAAP or IFRS. The Company believes these non-GAAP/non-IFRS financial measures provide useful information regarding the historical performance of the acquired solar power plants. These non-GAAP/non-IFRS measures have limitations, including potential differences in definition from those used by other companies, which may affect comparability. This presentation 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. Such forward-looking statements include, but are not limited to, statements relating to Kyivstar Group's acquisition of consolidated capacities of six solar power plants and its expected energy production. There are numerous risks and uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to the acquisition of consolidated capacities of six solar power plants, among others discussed in the section entitled "Risk Factors" included in Kyivstar Group's annual report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission ("SEC") on March 16, 2026, as amended and supplemented from time to time, and in any other subsequent filings with the SEC by Kyivstar Group. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Kyivstar Group undertakes no obligation to update or revise any forward-looking statements contained in this presentation, except as required by applicable law. This presentation is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
26CF7F EC2BF72C2C2C text 874BA1 FFC836 numbers F41C3A F7AB08 CE9F11 E5E5E5 F7F7F7 2638902AC2B5 FFFFFF D9D9D9 fill FFFFFF 90% opacity 592C70 0F1F59177769 994AA5 6D307A main pallete 00061A AA6ACC 5C73C667E8D9C382D1 D4ABEF 9BB0EABDFFF5F1D7F7 21E8CF 2949C1EC2BF7 Invest into infrastructure reconstruction and preemptive network resistance Grow digital ecosystem through adjacent acquisitions Grow fixed broadband market share via targeted acquisitions Deploy capital into real assets that mitigate inflation and / or currency risk 3 INORGANIC GROWTH STRATEGY: CREATE VALUE BY ACQUIRING LOCAL ASSETS DURING CAPITAL CONTROLS • Diversify energy needs, enhance ability to manage electricity costs • Support Ukrainian economy, develop renewable energy industry • Enhance ESG profile with tangible, measurable outcomes Renewable energy investments Key priorities SUNVIN 11 LLC Dec 2025 6 solar power plants May 2026
26CF7F EC2BF72C2C2C text 874BA1 FFC836 numbers F41C3A F7AB08 CE9F11 E5E5E5 F7F7F7 2638902AC2B5 FFFFFF D9D9D9 fill FFFFFF 90% opacity 592C70 0F1F59177769 994AA5 6D307A main pallete 00061A AA6ACC 5C73C667E8D9C382D1 D4ABEF 9BB0EABDFFF5F1D7F7 21E8CF 2949C1EC2BF7 SIX SOLAR PLANTS ACQUIRED IN LVIV REGION Acquired assets 118 MW capacity (including Sunvin) is ≈30% of Kyivstar’s annual consumption for telecom business Transaction benefits Diversifies energy sources Hedge energy costs Solar plants to supply electricity to Ukraine’s energy grid at market price with green-energy tariffs 4 105 MW INSTALLED CAPACITY Lviv region LOCATION Acquisition terms Total consideration of UAH 3.6 bn (USD 80.8 mn3) Longer-term monetization potential Near-term resilience today; monetizable, non-core assets over time Light-touch setup Employee-light setup with technical and operational management outsourced to operate the stations USD 0.77 mn PER MW Accretive FROM DAY ONE 1. The EBITDA measure provided is from unaudited management accounts for the year ended December 31, 2025. A reconciliation to the most directly comparable GAAP or IFRS measures is not provided because such quantitative reconciliation is not available without unreasonable efforts. Kyivstar Group is unable to assess the probable significance of the unavailable information and the quantification of these items would require significant estimates and judgments and could be material and unpredictable in amount or timing. Solar power portfolio • Six solar power plants, commissioned over 2017-2025 • Generated circa UAH 682 mn revenue and UAH 596 mn EBITDA 1 in 2025 2 2. The revenue and EBITDA numbers presented herein are derived from preliminary, unaudited management accounts as of December 31, 2025 and remain subject to completion of customary financial closing procedures, review, and audit. These amounts may include rounding adjustments and may not recalculate exactly. While this information has been prepared on a basis believed to be reasonable, it remains subject to revision and may change materially due to final adjustments, audit processes, transaction accounting determinations, and other adjustments. Accordingly, actual results for presented and future periods may differ from the preliminary information presented, and such differences may be material. This information is provided for informational purposes only and should not be regarded as a complete statement of financial results or relied upon as necessarily indicative of historical or future performance. 3. At an exchange rate of 44.25 UAH to 1 USD.
26CF7F EC2BF72C2C2C text 874BA1 FFC836 numbers F41C3A F7AB08 CE9F11 E5E5E5 F7F7F7 2638902AC2B5 FFFFFF D9D9D9 fill FFFFFF 90% opacity 592C70 0F1F59177769 994AA5 6D307A main pallete 00061A AA6ACC 5C73C667E8D9C382D1 D4ABEF 9BB0EABDFFF5F1D7F7 21E8CF 2949C1EC2BF7 5 EXECUTING OUR INORGANIC GROWTH STRATEGY Increased ownership in Helsi from 69.99% to 97.99% Announced acquisition of 97% stake in Uklon Launched Starlink Direct to Cell Satellite Connectivity in Ukraine November March May November Announced acquisition of Tabletki.ua to further expand digital healthcare offering February Acquired valuable new spectrum in an auction to support mobile network capacity and coverage Announced acquisition of SUNVIN 11, owner of an operational solar plant with 12.9 MW capacity December 2024 2025 2026 Announced acquisition of Shtorm to expand fixed broadband market share May Announced Starlink reseller agreement to provide high-speed internet services to Ukrainian businesses and public institutions Announced acquisition of 6 solar power plants in Lviv region with 105 MW capacity to further diversify energy sources
FAQ
What did Kyivstar Group (KYIV) disclose in its amended Form 6-K?
Kyivstar’s amended Form 6-K adds the previously omitted aggregate purchase price for six solar plants. The company confirms total consideration of UAH 3.6 billion, equal to USD 80.8 million, while leaving all other information from the original May 26, 2026 disclosure unchanged.
How much did Kyivstar Group (KYIV) pay for the six Lviv solar power plants?
Kyivstar paid total consideration of UAH 3.6 billion, or USD 80.8 million, for six solar plants in the Lviv region. The price equates to about USD 0.77 million per megawatt of installed capacity, based on 105 MW across the portfolio, according to the company’s investor presentation.
What is the capacity and recent performance of Kyivstar’s acquired solar plants?
The six acquired solar plants have 105 MW of installed capacity and generated roughly 113 GWh of electricity in 2025. Unaudited management accounts show about UAH 682 million of revenue and UAH 596 million of EBITDA for 2025, figures that remain subject to review and potential adjustment.
How does the solar acquisition affect Kyivstar’s overall green energy capacity?
After adding the six Lviv plants, Kyivstar’s green energy capacity rises to 118 MW, including a prior 13 MW Sunvin 11 asset. The company states this level of generation can cover around 30% of its current annual electricity consumption for its telecom operations in Ukraine.
Why is Kyivstar Group investing in renewable energy assets in Ukraine?
Kyivstar says renewable energy is a key focus of its investment portfolio, helping diversify energy sources and hedge electricity costs. Management also highlights support for Ukraine’s energy sector, operational resilience during wartime conditions, and alignment with ESG and broader sustainable development objectives.
What financial metrics did Kyivstar disclose for the acquired solar businesses?
For 2025, unaudited management accounts for the six plants show approximately UAH 682 million of revenue and UAH 596 million of EBITDA. The company notes these historical figures are preliminary, carved out from standalone statements, and may change after customary financial closing, review, and audit procedures.