IKEA spends 136 million euros on Romanian wind farms

Ingka Group, which owns and operates most of the world’s IKEA stores, said on September 13 that it would buy an 80 per cent stake in seven Romanian wind farms owned by wind turbine maker Vestas.

The deal’s value is 136 million euros.

Ingka Group said the acquisition consisted of 64 turbines capable of producing a total of 171 megawatts of power, and followed the purchase of a stake in Germany’s second-biggest offshore wind farm earlier this year.

“The 80 per cent stake supports our target to generate as much renewable energy as we consume and the investment brings us one step closer to reaching our 2020 goal,” said Krister Mattsson, head of Ingka Investments, in a statement.

Ingka Group said it now owned and operated 900,000 solar modules on its sites and 534 wind turbines in 14 countries.

The Romania deal is subject to regulatory approval.