Ingka Investments, the investment arm of Ingka Group — the largest IKEA retailer — has expanded its renewable-energy acquisitions by purchasing a ready-to-build wind farm and solar park located in northwestern Poland.
The total transaction value of €190 million ($203 million) includes a €173 million ($185 million) transaction with OX2.
Ingka Investments already owns and operates six wind farms with a total capacity of 180 megawatts in Poland, producing 450 gigawatt-hours per year, well in excess of the electricity consumption of the Polish IKEA Retail and Distribution. The new agreement has been signed with OX2, a leading firm in large-scale onshore wind and solar power, which has developed both projects that are expected to be fully operational by the end of 2024.
“We are delighted to further grow our renewable energy portfolio in Poland,” said Krister Mattsson, managing director, Ingka Investments. “This investment represents another important st
