Ingka Group, the largest IKEA retailer, has acquired its first two solar parks in Spain, marking an important step in strengthening its renewable energy presence in Iberia – one of its prioritised markets. These Iberian projects sit within Ingka Group’s extensive global renewable energy portfolio, with €4.3 billion already invested or committed worldwide.
Frederik de Jong, Head of Renewable Energy at Ingka Investments
“At a time when Europe continues to face energy price volatility and supply uncertainty, the projects in Villasequilla (Toledo) and Los Alcázares (Murcia) reinforce the region’s ability to build resilience and strengthen the interconnected energy system. The energy challenges of recent years have shown how essential it is for Europe to strengthen both local production and cross‑border resilience. Spain’s exceptional solar conditions allow us to contribute meaningfully to that effort. Iberia is a prioritised market for us, and these investments are designed to support a more reliable, affordable and sustainable energy system for the long term.”
Ingka Investments, the company’s investment arm, has acquired two solar parks: the Toledo solar farm “La Oliva”, which is already operational and generating an estimated 51 GWh annually, and the Murcia site, which will add another 55 GWh per year. Together, the two parks will deliver 106 GWh of renewable energy annually – supporting Spain’s growing renewable energy capacity at a moment when additional, home‑grown production is increasingly important.
This move highlights Ingka Group’s long‑term commitment to Iberia. Alongside the new solar parks in Spain, Ingka Investments recently hybridised its wind farm in Portugal by adding solar panels – boosting output, improving grid stability and maximising existing infrastructure. With the new Spanish solar parks and the hybrid asset in Portugal, Ingka Investments’ renewable production in Iberia will reach 323 GWh annually, with the ambition of further growth.
Karen Pflug, Chief Sustainability Officer of Ingka Group
“Strengthening Europe’s renewable energy capacity is essential for both climate progress and long‑term stability. By expanding our footprint in Spain and creating hybrid wind and solar assets in Portugal, we’re helping build a more flexible and interconnected energy system. As a global retailer, we believe it’s important to help build energy resilience and security in the regions where we operate.”
Ingka Group’s expansion in Spain and Portugal reflects a practical shift in how companies are helping secure and diversify renewable energy sources. With Europe still managing ongoing energy pressures, these investments demonstrate how businesses can support national energy plans and strengthen regional energy interdependence. As a large energy consumer, companies like IKEA also have a responsibility to contribute to new renewable capacity rather than relying solely on existing infrastructure, helping to advance the transition toward renewable energy.
About Ingka Group
With IKEA retail operations in 32 markets, Ingka Group is the largest IKEA retailer and represents 87% of IKEA retail sales. 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. Read more on Ingka.com.
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