Ingka Investments the investment part of Ingka Group, the largest IKEA retailer has acquired a French ready-to-build solar PV plant from Obton France. Obton has developed the solar PV plant to a ready-to-build project. Obton will still play an advisory role in the engineering and procurement phase.

The solar PV plant has a capacity of 19.6 MW with an annual production of about 23 GWh equivalent of the annual consumption of about 6,000 households. The PV plant is located in the French municipality of Langeron and is planned to become fully operational in 2024.

Ingka Investments accelerates investments in renewable energy, and circularity to support Ingka Group’s climate-science based targets, while growing the business and a commitment to reach net-zero by 2050 at the latest. The purchase of the ready-to-build solar project in Langeron has therefore been a strategically important prioritization for Ingka Investments, who among other things invest massively in sustainable energy and efforts within circular economy.

This investment is part of the 1.2Bn€ investment announced by IKEA in France on May 15^th, during Choose France summit, organized by the French presidency.

“We are continuously on the lookout for new sustainable energy projects for us to invest in. Sustainability investments are a growth sector, where doing good business and being a good business comes together, and therefore are also a core strategic priority for Ingka Group.,” says Peter van der Poel, Managing Director of Ingka Investments.

Anders Marcus, CEO at Obton, is happy to deliver a solar project to such a big player as Ingka Group, who not only prioritizes the climate highly but also sees a good business opportunity in solar energy.

“The Obton strategy increasingly focuses on developing green field solar projects. Once fully developed the projects will typically be sold on to either Obton’s own investor funds or institutional investors. The deal with Ingka Investments underlines that Obton are more than capable of developing and selling these types of attractive solar projects. This is no small endeavour, so I would like to thank all our colleagues in Obton France, who have taken lead on this long and complicated process”.

About Ingka Investments

Ingka Investments is a part of Ingka Group who consists of three core business areas: IKEA Retail, Ingka Centres and Ingka Investments. At this moment the Ingka Group owns 1.7 GW wind and solar parks across 15 countries in Europe and North America. Moreover, Ingka Group is developing a pipeline of about 1 GW onshore wind and solar capacity and 4.5 GW offshore wind capacity.