Wind Energy – Acquisition
Ingka Group, the owner of furniture giant IKEA, acquired a 49 percent share in three offshore wind development projects in Finland.
The projects have the potential to reach a total installed capacity of 6,000 MW. The acquisition price is EUR 30m.
The three wind power projects are near Halla, Laine and Trysky in the Gulf of Bothnia in the Baltic Sea and have the potential to produce up to 29 TWh/yr combined, once operational, corresponding to as much as one-third of all electricity consumed in Finland in 2022.
“This cooperation is a further bold move in expanding our investment activities to address climate footprint reduction well beyond our own consumption and into our value chain. We are increasing our global investments and commitments in renewable energy from over EUR 3.5 bn today to EUR 6.5 bn before 2030,” said Peter van der Poel, Managing Director of Ingka Investments.
Ingka Group owns 575 wind turbines in 17 countries, 20 solar parks, and 935,000 solar panels on the roofs of IKEA stores and warehouses.
Recently Ingka also joined UtsiraVIND, a dynamic offshore wind consortium committed to advancing Norwegian renewable energy.
The UtsiraVIND Consortium was first established as a partnership between ODFJELL OCEANWIND, a market-leading Norwegian provider of floating offshore wind technologies, and SOURCE GALILEO, a fast-growing European renewable energy platform, concentrating on offshore wind development.
Now the consortium is further strengthened as two new partners join; KANSAI, one of the largest Japanese utility companies and global investor in renewable energy, and the Ingka Group.
The expanded consortium will be bidding into the Utsira Nord floating offshore wind tender process in September 2023.