May 2026 – Kinstellar has successfully advised Kyivstar on the acquisition of six solar power plants in the Lviv region of Ukraine, with a combined capacity of 105 megawatts, for 3.6 billion hryvnias (approximately $80.8 million).
Kyivstar is Ukraine’s largest telecommunications operator and a subsidiary of Kyivstar Group Ltd (Nasdaq: KYIV; KYIVW), which is listed on the Nasdaq Stock Exchange in the United States. Together with the previous acquisition, also supported by Kinstellar, the company has expanded its renewable energy capacity to 118 megawatts.
Kinstellar’s advice comprised turnkey representation of Kyivstar, including due diligence of six projects; regulatory support; pre‑sale financial restructuring involving multiple secured bank facilities and bridge financings; obtaining six merger control approvals from the Antimonopoly Committee of Ukraine; drafting and negotiating the transaction documents; and assistance with signing and closing.
“We are honoured to support another of Kyivstar’s ambitious energy projects in Ukraine. Together with the previous acquisition, the combined solar generation capacity will cover approximately 30% of Kyivstar’s electricity needs, strengthening both the company’s operational resilience and the country’s energy security,” commented Illya Muchnyk, Partner at Kinstellar.
Zoiia Dronshkevych, Business Development and Corporate Strategy Office of Kyivstar, noted, “This is much more than simply acquiring assets. It is a systematic effort to build out our energy vertical and strengthen the long‑term resilience of our business model.”
The Kinstellar team in Kyiv was led by Illya Muchnyk (Partner) supported by Oleksandra Poliakova (Managing Associate) and Zakhar Oprysko (Associate), with the assistance of Maksym Tesliar (Partner), Yulia Eismont (Counsel), Diana Malysh (Senior Associate) and other team members.
For more information please contact Illya Muchnyk at illya.muchnyk@kinstellar.com.
