Ingka Investments, the investments arm of Ingka Group, the largest IKEA retailer strengthens its commitment to the energy transition by increasing to €7.5 billion investment in renewable energy. Frederik de Jong, Head of Renewable Energy at Ingka Investments, explains that this initiative aims to ensure 100% renewable energy consumption across all company operations and value chains.
«We are investing in renewable energy to support the transition toward a renewable energy future. These investments are helping to reduce IKEA’s climate footprint and drive a broader transition to a net-zero society. Using renewable energy across IKEA operations and value chains is a significant part of achieving our science-based targets and commitment to the Paris Agreement,» de Jong stated in an interview with Energía Estratégica España.
Globally, the company operates 47 wind farms and 13 solar parks across 17 countries, including Australia, Canada, China, Finland, Germany, Ireland, Italy, Latvia, Lithuania, Norway, Poland, Portugal, Romania, Slovakia, Sweden, the United Kingdom, and the United States.
Currently, Ingka Investments has invested and committed over €4 billion to renewable energy projects in wind and solar power.
«We are operating as a medium-sized renewable energy production company. Having expertise across all parts of the energy value chain provides us with new investment opportunities, strengthens our business, and enhances our ability to support IKEA’s value chain and retail ambitions. We’ve had a successful year and look forward to new opportunities in 2025,» added de Jong.
Innovation and Emerging Technologies
The company does not limit itself to traditional renewable sources. A portion of the funds, €1 billion, is earmarked for Energy Transformation, exploring innovative technologies such as energy storage (BESS), green hydrogen, and electric grid infrastructure.
«This budget adds to our previous commitment of €6.5 billion in renewables by 2030, bringing our total investment to €7.5 billion aimed at transforming the energy matrix,» de Jong emphasized.
Examples such as its partnership with Apex Clean Energy on battery storage projects or its collaboration with the French offshore wind developer Oxan Energy for the upcoming tender in France underscore the group’s focus on technological diversification.
Additionally, Ingka Group’s technological strategy seeks not only to strengthen its energy self-management capacity but also to facilitate the transition to clean energy sources in the communities where it operates.
«Different markets present distinct challenges, ranging from permitting processes and access to grid connections to generally higher cost levels linked to the supply chain,» de Jong noted.
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