IKEA investment division acquires 300 MW photovoltaic park in Romania

Ingka Investments, the investment division of the Ingka Group, the owner of IKEA stores, is acquiring a ready-to-build 300 MW photovoltaic park in Romania with an investment of over EUR 200 million.

The photovoltaic project is located in Dâmbovița County and has a total capacity of 300 MWp. Once operational, by the end of 2025, it will be able to generate enough renewable energy for the equivalent of approximately 170,000 households in Romania.

The Ingka Group already owns 9 wind parks in Romania with a total capacity of 171 MW.

"With our own solar park, we aim to make renewable energy available throughout the entire IKEA value chain and in all areas where we operate," said Peter van der Poel, managing director of Ingka Investments, cited by Profit.ro.

Ingka Investments has set a goal to invest EUR 6.5 billion to achieve 100% renewable energy consumption. Out of this amount, EUR 4 billion has already been invested in wind and solar energy projects, according to the company.

The development of the latest photovoltaic park in Romania is part of IKEA's commitment to have a positive climate impact by 2030, by reducing more greenhouse gas emissions than the entire IKEA value chain emits while also growing the IKEA business.

The Ingka Group owns 594 wind turbines and 29 solar parks in 19 countries and over 1 million solar panels on the roofs of IKEA stores and warehouses. Together, they have a production capacity of over 5 TWh, equivalent to the annual electricity consumption of over 1.25 million European households.

(Photo source: Deyangeorgiev | Dreamstime.com)