Photo: Pvproductions on Freepik
The investment branch of Ingka Holding received authorization from the regulator in Romania for a solar power project of 247 MW in peak capacity. The firm owns nine wind farms in the country, of 171 MW in total.
Ingka Investments Romania, part of Ingka Holding, got the so-called setup or establishment permit from the Romanian Energy Regulatory Authority (ANRE) for a photovoltaic project in Dâmbovița county. The proposed facility would have 247 MW in peak capacity and a 223 MW grid connection, Profit.ro reported.
Ingka Holding is the largest IKEA franchisee company. Its investment division would build the solar power plant in two segments via its special purpose vehicle Butimanu Energy.
The location is in the vicinity of the Butimanu commune just north of Bucharest, in the Muntenia region. Ingka Investments bought the project late last year. At the time, the company said it was ready for construction and valued it at more than EUR 200 million. It also revealed that it expected to commission the facility by the end of 2025.
ANRE said earlier this month that it expects 39 renewable electricity plants to be put into operation by the end of the year. The developers have signed grid connection contracts, obtained construction permits and got establishment permits from the regulator.
Ingka Group to expand supply to local suppliers
Ingka Investments has added that the annual output would be equivalent to the electricity needs of 170,000 Romanian households. Butimanu photovoltaic plant will enable Ingka Group to provide renewable energy to a greater number of local suppliers in the extended value chain, the firm said.
The company already owns nine wind farms in Romania, with a total capacity of 171 MW, and supplies electricity to end consumers.
IKEA is the largest private owner of forests in the country. Furniture manufacturers producing for the retail chain are sourcing wood from some of Europe’s last remaining old-growth forests in the Romanian Carpathians, including in Natura 2000 protected areas, Greenpeace claimed in April. Several firms were found to be sourcing wood from high conservation value forests, it added.
IKEA owner increases stake in biggest wind farm in Earth’s southern hemisphere
In other news, Ingka Investments has made its second investment in the 1.33 GW Golden Plains Wind Farm in Victoria, Australia. It said it took a 15% stake in Stage 2 of the EUR 2.5 billion project, adding it would become the biggest wind power plant in the southern hemisphere.
“Our 15% stake in Golden Plains Wind Farm Stage 2 highlights our dedication to securing renewable energy for IKEA retail countries and advancing sustainability goals,” said the firm’s Head of Renewable Energy Frederik de Jong.
The first turbines have started spinning at the 756 MW stage 1 of the project and the remaining 577 MW is under construction.
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