Ingka Group, the owner of most IKEA stores worldwide, has bought nine solar photovoltaic (PV) park projects in Germany and Spain for a total of €340 million ($373 million) in its push to generate more renewable energy than it consumes. The world’s biggest furniture retailer said on Wednesday it was buying the projects, which would have a combined capacity of 440 megawatts, from German developer Enerparc. “The expected production ... will be sufficient to cover all IKEA stores and warehouses in the two countries, making the operations of Ingka Group climate positive,” it said in a statement. IKEA operates through a franchise system with Ingka Group the main franchisee to brand owner Inter IKEA.
Published in The Express Tribune, April 7th, 2022.
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