The owner of IKEA will spend € 4 billion on the development of green energy projects

The owner of IKEA will spend € 4 billion on the development of green energy projects

The holding company Ingka Group, which owns most IKEA stores, has announced the allocation of € 4 billion (approximately $ 4.8 billion) to invest in projects related to wind and solar energy sources, charging stations for electric cars, etc. The announced amount will be distributed among various projects in the field of green energy until 2030.

ikea
IKEA

The source notes that Ingka has invested € 2.5 billion over the past decade to develop projects related to wind and solar energy. Earlier this year, the company announced that the volume of electricity generated from renewable sources exceeds the level of consumption by stores and warehouses. The new investment of € 4 billion marks the next step on the path to fully switching to renewable energy sources.

“ Investments will be focused on developing projects in the fields of wind and solar energy in new countries. The company will also consider investing in new areas such as energy storage, hydrogen fuel development, and charging infrastructure, ”the company said in a statement.    

Ingka CEO Jesper Brodin said the company would primarily invest in solar and wind farms in China, India, and Australia. At the same time, part of the funds will increase the number of charging stations for electric cars in IKEA parking lots. So far, the company’s attention has not been attracted by any projects related to energy storage and hydrogen fuel.

 

It is worth noting that earlier this month, Ingka announced its intention to switch Russian IKEA stores to use solar energy. To do this, the company had to buy almost half of eight solar parks in Russia.

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