Pantelimon wind farm. Image: Ingka Group

IKEA Finland completes acquisition of three new wind farms, to support its renewable energy generation

IKEA has an ambition to become climate positive, reducing more greenhouse gas emissions than the IKEA value chain emits. For Ingka Group, this means that the future of energy is renewable, and that’s why it has invested heavily in wind and solar power over the past decade. Most recently, IKEA Finland, through Ingka Investments, has completed and transferred the ownership of three new wind farms to IKEA Oy.

The new wind farms now mean IKEA Finland produces renewable energy comparable to the annual consumption of the residents of a city the size of Turku in Finland. The completion of this transaction means IKEA Oy now owns five wind farms that produce a combined 520 giga watt hours of renewable energy annually. This would cover the total annual consumption of 104,000 households. 

Since 2017, IKEA Finland has generated as much renewable energy as its operations consume, when the company’s first wind farm in Kemi Ajos was completed. Since then, Ingka Group, through Ingka Investments, has invested in four new wind farms in Finland, which have been completed and transferred to IKEA Oy. 

“We are pleased to have closed this investment in Finland and we now plan to continue with our future investment strategy for renewable energy. We are now focusing on countries like Russia, China and India, where we do not have large scale renewable energy production yet,” says Krister Mattsson, Managing Director Ingka Investments, the investment arm of Ingka Group. 

IKEA aims to reduce more greenhouse gas emissions than the value chain emits.  By FY25, Ingka Group aims to consume 100% renewable electricity in each of its 30 countries where its present, focusing on generating renewable electricity onsite and offsite both on wind farms and utility-scale solar farms. The company is now working to ensure its business is fully run on renewable energy with the aim to consume 100% renewable electricity in its retail operations by 2025. 

“IKEA wants to promote a more sustainable everyday life and has set ambitious goals to prevent climate change and invest in climate positivity. We are very proud and happy that we at IKEA Finland can promote our global Ingka climate goals in such a concrete way. With our new wind farms, we are taking a leap towards becoming climate positive,” says Jessica Lehtinen, IKEA Finland’s Sustainability Manager.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Realm banks on F&B occupier growth with key appointment

Realm has grown its leasing team with the appointment of Caroline Helyer as leasing manager. Caroline will be working across several of Realm’s schemes – including Dalton Park, Milsom Place and Bedford Riverside – where she will be leading initiatives to secure new retail lettings and lease renewals, as well as enhance the customer shopping experience and F&B offering across the portfolio.

redos buys Äppelallee-Center retail warehouse in Wiesbaden, Germany

Hamburg-based large-scale retail property specialist redos Group has acquired the Äppelallee-Center in Wiesbaden near Frankfurt. The purchase was made on behalf of the special AIF "Redos Einzelhandel Deutschland III".

PINKO will open store in Ocean Plaza Shopping Mall in Ukraine

The Italian brand PINKO will open the second store in Ukraine in Ocean Plaza shopping mall. The exclusive distributor of the brand is ARGO. The new store with an area of ​​160 sq.m. will open its doors on the first floor in May. A wide range of women's clothing, shoes and accessories will be presented.

Sabine Georgi Appointed as ULI Germany/Austria/Switzerland Executive Director

Sabine Georgi joins the Urban Land Institute (ULI) from Royal Institute of Chartered Surveyors (RICS).

Acquisition of The Moor, Sheffield in a Joint Venture with BRAVO

NewRiver is pleased to announce that its joint venture with BRAVO Strategies III LLC in which it holds a 10% stake has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre, from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for total consideration of £41.0 million, representing a capital value of £60 per sq ft.

Ziv Gigi appointed as Managing Director for GTC’s operations in Romania

GTC has announced the promotion of Ziv Gigi to the position of Managing Director Romania. He will be responsible for all operations of GTC in the Romanian market.