July 5, 2022

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IKEA enters the solar energy field in Spain with an investment of more than 100 million euros (environmental): :: CSR commitment

IKEA enters the solar energy field in Spain with an investment of more than 100 million euros (environmental): :: CSR commitment

07/04/2022 08:03:58 The Ingka Group, through its investment division, has signed an agreement with Enerparc to promote and develop photovoltaic solar parks in Spain, in which it will invest more than €100 million. Installing about 140 megawatts would mean producing approximately 260 gigawatt hours per year, which is equivalent to the electricity consumption of 65,000 Spanish homes.

This is the first large-scale investment in renewable energy in Spain and will include 5 solar PV projects with approximately 140 MW of solar energy. The photovoltaic plants will be located in Andalusia, Valencian Community and Castilla La Mancha and construction is expected to start at the end of 2022 and continue in 2023.

Sustainability is central to all IKEA business decisions, whose strategy focuses on making a positive impact on people and the planet and reducing the carbon footprint of the operations of the entire IKEA Group.

For this reason, these projects are part of the investment that the Ingka Group has already announced to support the goal of being an energy independent company and that 100% of the energy consumed throughout the value chain is renewable, and today also generates more energy than it consumes. All of this contributes to the ambitious goal of becoming a 100% circular company by 2030.

Commitment to renewable energy sources globally

This investment is added to the investment announced today by the Ingka Group in Germany, also in cooperation with Enerparc. These projects are part of an investment of 6,500 million euros to support consumption of 100% renewable energy with a commitment of 2,700 million euros in renewable energy, wind and solar projects.

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The Ingka Group currently owns and operates 547 wind turbines in 14 countries, 10 solar collectors, and 935,000 solar panels on the rooftops of IKEA stores and warehouses. Together, this produces more than 4 TWh, which is equivalent to the annual electricity consumption of more than one million homes in Europe.

IKEA Spain’s contribution to the Global Goals

At IKEA in Spain we also strive for our operations to be energy independent and we have plants to produce renewable energy with different technologies, such as solar PV, solar thermal and geothermal. The investment in solar panels on our roofs and warehouses stands out, amounting to €11 million. Thanks to these initiatives, 85.2% of the energy consumed by IKEA in Spain is currently renewable energy.

On the other hand, as part of IKEA’s commitment to renewable energies, we are also helping to democratize the autonomous consumption of solar energy by launching our Home Solar range, with a value proposition in the sector that combines system characteristics with the best conditions and guarantees available to most people. The launch of this solar panel display is an important part of IKEA’s global sustainability strategy. In addition to reducing the carbon footprint of IKEA operations, we also want to help people live more sustainably in their homes.