Inka Investments, the funding arm of Inka Group, the biggest IKEA retailer, has introduced that it has acquired 100% stake in a 210 MWp subsidy-free solar energy venture in Bikaner, Rajasthan, India, as a part of its Rs 1 billion funding plan in renewable vitality in India.
The solar energy venture has reached development readiness and development will start quickly. Operations are scheduled to begin in December 2026. The whole anticipated manufacturing capability is 380GWh per yr.
Frederik de Jong, head of renewable vitality at Ingka Investments, mentioned: “It is a milestone acquisition for us and marks Ingka Investments’ first renewable vitality funding in India, a very powerful nation for each IKEA retail and our provide chain.”
“The brand new solar energy venture in India will produce 380 GWh of renewable vitality per yr, which is greater than sufficient to energy our rising retail, purchasing middle and distribution operations. It is a main step in making our retail operations in India extra sustainable, environment friendly and future-ready,” he mentioned.
As a part of a worldwide initiative, €7.5 billion has been dedicated to assist 100% renewable vitality consumption throughout the worth chain and past by 2030. Ingka Investments has invested and dedicated €4.2 billion in wind and photo voltaic renewable vitality initiatives world wide.
In India, the corporate has partnered with IB VOGT, a German-based built-in large-scale solar energy improvement firm with a powerful presence in India, to develop, assemble and function numerous large-scale renewable vitality initiatives throughout India.
ib vogt Photo voltaic India will even be a accomplice for development and operations for the primary three years. The development and operation of the photo voltaic venture will end in important native employment, estimated at roughly 450 individuals throughout development and 10 to fifteen throughout operations, the corporate mentioned.
“Over the previous eight years, now we have invested in making our retail business extra sustainable. Designed round vitality effectivity, our two large-format shops (Bangalore and Navi Mumbai) are LEED Gold licensed, and we’re working in direction of Platinum certification in Gurugram and Noida,” mentioned Patrick Antoni, CEO, IKEA India.
