Ukraine’s largest mobile operator Kyivstar is stepping up efforts to keep its telecommunications network running as renewed Russian attacks on energy infrastructure put mounting strain on the country’s fragile power grid, CEO Oleksandr Komarov told Reuters on Monday.
“Right now, we have more than 3,500 stationary generators connected to the network in real time,” Komarov said. “But the pressure on the energy infrastructure is also growing… The only answer we have is to increase the number of generators connected to the network.”
Russia’s latest barrage of drones and missiles on Saturday targeted nuclear substations and other critical energy sites, killing seven people. State-owned energy firm Tsentrenergo described it as the largest attack on its facilities since the war began in 2022.
Since the start of the invasion, Kyivstar has worked to harden its network against power outages. Core systems now have backup power for up to three days, while more than 90,000 connection boxes in apartment buildings are equipped with solutions that allow them to function for 10–12 hours during blackouts.
The upgrades are part of Kyivstar’s broader resilience plan to ensure continuity of service across Ukraine despite recurring infrastructure damage.
Meanwhile, Kyivstar — which became the first Ukrainian company listed on a U.S. stock exchange in August — continues to navigate geopolitical and market volatility.
Komarov said U.S. institutional investors see the company as “significantly undervalued” given the wartime context, while Veon, Kyivstar’s parent company, is working with Ukrainian authorities to enable local investors to buy shares.
Earlier Monday, Kyivstar reported a 20% increase in third-quarter revenue to $297 million, supported by steady macroeconomic conditions and international support that have helped stabilize Ukraine’s currency.