IKEA seller purchases 440-MW solar project package in Europe from Enerparc

• The investment arm of Ingka Group, the greatest store in the IKEA franchisee system, announced today it has actually acquired a 440-MW solar photovoltaic or pv (PV) project portfolio in Germany as well as Spain from developer Enerparc AG.

Especially, Ingka Investments has gotten a total amount of 9 early-stage projects, consisting of four in Germany for 300 MW and also an additional five in Spain completing 140 MW. The Ingka Group estimates the complete investment in the portfolio at concerning EUR 340 million (USD 371m).

The projects will prepare to start building at the end of 2022 as well as the process is seen to last regarding 6 months. Their future result should suffice to meet the electricity intake in all IKEA stores as well as stockrooms in the two nations.

Currently, the Ingka Group has and takes care of 547 wind generators in 14 countries, 10 solar parks and 935,000 solar arrays in addition to IKEA shops and stockrooms. Up until now, its investment arm has actually dedicated more than EUR 2.7 billion right into renewables in a drive to attain 100% renewable resource consumption throughout the value chain and also beyond. IKEA wishes to become climate favorable by 2030.

On the other hand, Enerparc aims to create a total amount of 10 GW of solar PV for its very own portfolio and also third-party portfolios up until 2030, according to its CEO as well as chairman, Christoph Koeppen.