Ingka Investments, the investment arm of Ingka Group, acquires nine solar PV park projects in Germany and Spain from solar PV developer, ENERPARC AG. The total investment in the solar PV development portfolio will amount to approximately EUR 340 million.
The expected energy capacity of the solar PV parks equals 300 megawatts in Germany across four solar PV development projects and 140 megawatts in Spain across five solar PV development projects. The expected production of the solar PV parks in Germany and Spain is equivalent to the electricity consumption of roughly 140.000 European households and will be sufficient to cover all IKEA stores and warehouses in the two countries, making the operations of Ingka Group in the two countries carbon neutral.
“We are thrilled to be partnering with ENERPARC in this important initiative to enable renewable electricity consumption in Germany and Spain. With our own solar parks and wind farms, we want to make renewable energy available to our operations and produce more than we consume ourselves,” says Krister Mattsson, Managing Director, Ingka Investments.
The projects are at early stages and are expected to become ready for construction at the end of 2022, continuing into 2023. The construction itself will take roughly six months.
As part of a EUR 6.5 billion initiative to support of 100% renewable energy consumption across the value chain and generate more renewable energy globally than Ingka Group consumes, Ingka Investments has invested and committed more than EUR 2.7 billion into renewable energy projects in wind and solar power.
The development of the solar PV parks in Germany and Spain are part of IKEA’s goal of becoming climate positive* by 2030 by reducing more GHG emissions than the IKEA value chain emits, while also simultaneously growing the IKEA business. As the biggest retailer in the IKEA franchise system, Ingka Group’s contribution is key to the successful accomplishment of the 2030 goals.
“We are delighted to be partnering with Ingka and support their initiative to becoming climate positive within this decade. This partnership is in line with our dedicated strategy to develop a total of 10 GW solar PV plants for our own portfolio and third-party portfolios until 2030. It is a wonderful signal that Ingka and ENERPARC have joined forces to contribute to a world of carbon- neutral energy generation.” says Christoph Koeppen, CEO and chairman of the board at ENERPARC AG.
Today, Ingka Group owns and manages 547 wind turbines in 14 countries, 10 solar parks and 935.000 solar panels on the roofs of IKEA stores and warehouses. Together, this produces more than 4 TWh, equivalent to the annual electricity consumption of over 1 million European households.
Hamburg, 6th April 2022
Contact Ingka Group Media Relations
Phone: +46 (0)70 99 36 376
E-Mail: press.office@ingka.com
About ENERPARC AG:
Headquartered in Hamburg, ENERPARC is a leading utility-scale photovoltaic company that covers the entire value chain. The services range from development over design, procurement and construction to operations and maintenance as well as asset management and energy trading. Founded in 2008, ENERPARC has become a global player with 300+ experienced employees and licensed partners in Spain, France, India, and Australia. ENERPARC has successfully commissioned projects with an overall capacity of 3.600 MW and is operating 2.500 MW.
About Ingka Group:
With IKEA retail operations on 32 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. Ingka Group employs more than 170.000 co-workers and reported IKEA Retail sales of EUR 37.4 billion at the end of financial year 2021. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres.