Main IKEA retailer expects to exceed renewable energy goal by year’s end

Ingka Group, which owns most IKEA stores, will by year’s end exceed its 2020 target to produce as much renewable energy as the energy it consumes, Ingka Chief Executive Jesper Brodin said on Thursday.

Ingka Group has spent 2.5 billion euros (£2.2 billion) over the past decade on wind farms, rooftop solar panels on its stores and warehouses and, most recently, on its first-ever off-site solar parks, the company said on Thursday.

It announced this week the acquisition of a 49% stake in two U.S. solar parks due to come into operation in coming months. Ikea is the world’s biggest furniture group; Ingka Group owns most of its retail operations.

Ingka said its renewable energy power now equals more than 1.7 gigawatts (GW)of power – spread over 920,000 solar modules on its sites, 534 wind turbines in 14 countries and the 700,000 solar panels under construction in the United States.

Reuters