Ikea owner buys into 403 MW of US solar parks

• Ingka Group, the proprietor as well as driver of Ikea shops, has actually gotten minority passions in 403 MW of solar photovoltaic (PV) parks in the United States from Copenhagen Infrastructure Partners (CIP).

Via its financial investment arm Ingka financial investments, the business has actually acquired 49% risks in 2 solar projects found in Utah as well as Texas, specifically, it stated previously today without giving economic information. While the bargain for the Utah system was settled at end-2019, the various other one was finished at the end of last month. The acquisition was concurred last September.

The plant in Utah includes 636,000 photovoltaic panels and also the Texas park, called Misae, makes use of greater than 823,000 panels that have a yearly outcome of 567 GWh. According to the project's site, the Misae plant was brought online in March 2020.

The purchase will certainly allow Ingka Group to generate even more power than it eats as well as sustains its objective of covering 100% of its complete power need with renewables by 2025. "We intend to proceed with our future financial investment technique as well as are concentrating on nations where we do not have huge range renewable resource manufacturing yet, such as Russia and also China," stated Krister Mattsson, taking care of supervisor Ingka Investments.