Ingka Group has acquired a 300 MW ready-to-build solar project in Romania. The total investment in the project is worth over 200 million euros.
The future solar power plant is located in Dambovita county. Once operational, at the end of 2025, it will be able to generate enough electricity to cover the demand of 170,000 households.
Managing Director at Ingka Investments Peter van der Poel said that the group has a presence and a long-term commitment in Romania. The development of the solar power plant is a step towards the production of renewable energy in Dambovita County, but also a chance for Ingka Investments to contribute to the country’s objectives regarding the energy mix and the consumption of renewable energy for 2030.
With the help of this solar park, the company wants to make renewable energy available throughout the entire IKEA value chain. The Ingka Group already owns 9 wind farms in Romania, with a total capacity of 171 MW. The construction of the solar power plant in Dambovita County will further reduce the climate footprint by increasing Ingka’s production of renewable energy in this area. This will enable the Ingka Group to provide renewable energy to a greater number of local suppliers in the extended value chain.
Ingka Investments has set out to invest 6.5 billion euros to support 100% renewable energy consumption. Of this amount, 4 billion euros are already invested in renewable energy projects in the field of wind and solar energy.