IKEA owner Ingka Group to invest EUR4bn in solar and wind projects

• Ingka Group, a merchant that runs most of IKEA stores, has actually designated an additional EUR4 billion (US$ 4.8 billion) to purchase solar and also wind plants.

Having actually already invested EUR2.5 billion in the past 10 years on tidy power projects, Ingka claimed the most recent statement marks the following action towards 100% renewable energy throughout the company's worth chain.

The firm currently owns and handles 10 PV projects in 15 countries along with 547 wind turbines and 935,000 solar panels on the roofing systems of IKEA stores and also storehouses, bringing its total mounted renewable resource power to greater than 1.7 GW.

The statement comes a week after Ingka Investments, the financial investment arm of Ingka Group, said it will certainly get a 49% risk in 8 solar projects in Russia with a total ability of 160MW that will supply sufficient electrical power to power all 17 IKEA stores in the nation. According to Ingka, the purchase marks the initial large-scale foreign financial investment into renewable resource in Russia by a non-utility firm.

Ingka Investments last year finished a procurement of a 49% passion in two PV plants in Utah as well as Texas that have an integrated ability of 403MW. The offer was the company's very first investment in utility-scale solar.

Using renewable resource throughout the company's operations is a significant part of delivering on its commitment to the Paris Agreement, stated Pia Heidenmark Cook, Ingka Group principal sustainability policeman. "We have currently come a long way, and also in this essential years we require ahead together to accelerate a simply shift to a culture powered by renewable resource," she included.

In the middle of surging stakeholder passion in corporate sustainability and also boosted accessibility to renewables worldwide, a recent BloombergNEF report discovered that corporations bought a document of 23.7 GW of clean energy in 2020, with the US once again the biggest market.

The research study organisation located that Amazon was the leading buyer clean energy in 2020, announcing 35 clean energy power purchase agreements completing 5.1 GW. It was followed by French oil major Total, which got 3GW of solar energy last year.

Amazon this week revealed prepare for 9 brand-new utility-scale solar and wind projects worldwide, including its very first PV-plus-storage installment, which will be situated in California. The company said these installations placed it on the right track to powering all its organization tasks with renewables by 2025.