02/03/2023

Ingka Group invests in Australian wind farm

Entering a critical decade for climate action, Ingka Group, through its investment arm Ingka Investments has committed to expanding its investments in renewable energy to EUR 6.5 billion as the next step towards 100% renewable energy across the value chain.

Official Press Release Ingka Group:

Ingka Investments signs agreement to invest in Australia’s biggest permitted wind farm

Ingka Investments, the investment arm of Ingka Group, the world's largest IKEA retailer, has made its first renewable energy investment in Australia, taking a 15 per cent stake in the EUR 1.3bn stage one of TagEnergy’s Golden Plains Wind Farm near Geelong.

The move comes as 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 overall project has a total planned capacity of 1.3GW and consists of two stages. Once complete, Golden Plains Wind Farm will provide sustainable energy for more than 750,000 homes. Stage one consists of 756MW (122 turbines) with an expected annual production of... ... More: Official Press Release Ingka Group