Ingka Group has reached agreement with Vestas Wind Systems A/S to acquire 80% stake in seven wind farm entities in South-East Romania, the 14th country where Ingka Group has invested in wind energy.
The acquisition was made by the investment arm of Ingka Group, Ingka Investments, and consists of 64 turbines totaling 171 Megawatts. The production of the wind farms combined is the equivalent of more than 65 IKEA stores or 150,000 Romanian households and exceeds the electricity consumption of IKEA’s supply chain in Romania.
The stake supports Ingka Group’s target to generate as much renewable energy as it consumes and brings it one step closer to reaching its 2020 goal.
“We maintain high ambitions for renewable energy generation where we aim to generate more renewable energy than we consume, so we will continue to invest in renewable energy across our operations,” said Krister Mattsson, Managing Director, Ingka Investments, Ingka Group.
Ingka Group now owns and operates 900,000 solar modules on its sites and 534 wind turbines in 14 countries.