IKEA proprietor Ingka acquires shovel-ready solar and wind assets in Poland

• IKEA proprietor Ingka has actually acquired shovel-ready solar and wind assets in Poland from renewables programmer OX2 in a EUR190 million (US$ 203 million) deal.

Once finished, the solar farm located in Recz, north west Poland, will certainly have a capacity of 29MW, while the wind farm in Wysoka will certainly add a further 63MW to the 180MW of generation capacity Ingka currently owns in the nation.

Those 2 projects will additionally increase renewable resource gain access to for IKEA Retail operations as well as the firm's value chain in the nation.

Both projects are expected to be functional by the end of 2024.

The transaction with OX2 has actually been valued at EUR173 million (US$ 185.45 million), with an additional EUR17 million paid to various other stakeholders involved in the projects.

Krister Mattsson, handling director at Ingka Investments stated: "Having recently purchased renewable resource in Spain as well as Germany, this investment shows our continued dedication to buy countries where IKEA Retail operates and also to boost the share of renewable energy across the IKEA value chain."

Ingka Group, the moms and dad company of Ingka Investments, operates renewable assets in 17 nations with a power capacity going beyond 2.3 GW as the group intends to achieve 100% renewable intake in all its operations by 2025.

In April, the financial investment arm of Ingka had actually invested EUR340 million (US$ 370 million) in 440MW of solar PV advancement in between Spain as well as Germany to be built by programmer Enerparc.

Last month, IKEA partnered with United States residential solar installer SunPower to use residence PV options in select IKEA stores in California with the purpose to roll out to more places in the future.