Denmark's export bank funds €100 million Ukrainian wind farm project

Denmark’s Export and Investment Fund, a state-owned export bank, has committed €100 million to a new wind farm in Ukraine. The project will be equipped with turbines from the Danish company Vestas and managed by the Ukrainian agricultural firm Kernal, which plans to use part of the power internally and sell the remainder to the country’s strained electricity network. According to the fund’s CEO, the ongoing conflict is not a factor in evaluating the venture’s financial viability, as wind installations are difficult for hostile forces to disable.

The fund has supported dozens of Ukrainian initiatives across energy and agriculture since the 2022 invasion, with none suffering major damage to date. A previous large-scale wind investment with Ukrainian utility DTEK was made last year, and more similar projects are expected in the coming months, reflecting the perceived large-scale opportunity for energy infrastructure in Ukraine.