Kyivstar Boosts Green Energy Ninefold with $80.8M Acquisition of Six Solar Plants
VEON sits 61% above its 52-week low of $34.55 on light trading volume (0.3× avg).
Summary
VEON's subsidiary Kyivstar acquired six solar power plants in Ukraine for $80.8 million, adding 105 MW of capacity. This expands Kyivstar's renewable energy portfolio nearly ninefold to 118 MW, following a previous 13 MW acquisition in December 2025. The new capacity is expected to cover approximately 30% of Kyivstar's annual electricity consumption, providing a partial hedge against rising energy costs and enhancing operational efficiency. This investment aligns with VEON's strategy of disciplined capital allocation and continued commitment to strengthening infrastructure in Ukraine, as seen in recent positive financial results and investment commitments.
At the time of this announcement, VEON was trading at $55.65 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $34.55 to $64.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.