Ingka Group, the Netherlands-based holding company that owns the majority of IKEA stores, has paid €340 million ($373 million) for nine solar photovoltaic (PV) park projects in Germany and Spain, according to Reuters. The seller was German developer Enerparc.
With a combined 440 megawatts, the expected production of the projects will be enough to cover all IKEA stores and warehouses in Germany and Spain, making Ingka Group’s operations “climate positive.” The projects are expected to become ready for construction in late 2022 and early 2023, with construction to take an estimated six months.
This brings Ingka Group’s portfolio to 547 wind turbines in 14 countries, with 10 solar parks and 935,000 solar panels on the roofs of IKEA stores and warehouses.
