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Renewable Energy Investments

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We invest in renewable energy to speed up our journey to a more sustainable world

We are investing in renewable energy to support the transition towards a renewable energy future. The investments are supporting a reduction of the IKEA climate footprint and a broader transition to a net-zero society. Using renewable energy across IKEA operations and value chain is a significant part of delivering on our science-based targets and commitment to the Paris Agreement.  

We develop, construct, acquire and operate wind and solar farms and sell renewable energy to reduce the climate footprint of Ingka Group and the IKEA value chain. We further support the transition through investments in early-stage projects in offshore wind, battery storage and Power-to-X.  

We focus on utility-scale wind and solar projects to increase the production of renewable energy, and invest in technologies designed to support the energy transition, from storage solutions to charging stations.  

Shifting our energy consumption from fossil fuels to renewables is a huge and complicated challenge, and we are investing in technological solutions to help us bridge this gap.  

Our ultimate ambition is to build integrated utility capabilities so that we can produce renewable energy and sell it throughout our whole value chain to run more sustainably.  

Our portfolio in numbers

  • We have an important role to play in encouraging the production of more renewable energy, rather than just buying up scarce renewable energy. Therefore, we focus on wind and solar energy and will invest EUR 6.5 billion by 2030 to produce 15 terawatt hours.  
  • In November 2023 we announced that we are committing to an additional EUR 1 billion for investments in innovation and transitional technologies, bringing the total commitment to the renewable energy sector to EUR 7.5 billion by 2030.  
  • By the end of FY23, we operated 552 wind turbines in 14 countries, and 12 solar parks across 3 countries; we had 3 windfarms, 2 solar farms and 1 battery storage project under construction across 5 countries, and 11 solar farms across 6 countries in preparation for construction. We are also invested in offshore development projects in 3 countries.  
  • Our EUR 4+ billion investments so far has resulted in 2.5 gigawatt of total installed renewable energy – equivalent to the annual consumption of over 1.5m European households.  
Sunset over wind turbines in the ocean

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