Updated Apr 29, 2021

Ikea set continue big investments into renewable energy

Ikea has made plans to invest an extra £3.4 billion in renewable energy by the end of 2030 to build wind and solar farms. It also plans to fit stores with electric van charging points.

The Ingka Group which own Ikea stores has already invested heavily in renewable energy with 935,000 solar panels on the roofs of its stores, 547 wind turbines and 10 solar parks which cover their own electricity use with some extra. Over the last decade, €2.5 billion has been spent on renewable energy.

To help make better use of the renewable energy that is generated by them, Ikea are taking the first steps into energy storage. Emissions are also being targeted by the installation of electric charging points for delivery vans.

Ingka Group also recently obtained a 49% stake in 8 solar PV parks in Russia. The energy capacity of the parks equals 160 megawatts, which will provide enough electricity to power all 17 IKEA Stores in Russia plus part of the MEGA shopping centres based around the country.

The chief executive of Ingka Group, Jesper Brodin, commented:

"We are in the most important decade in the history of humankind – climate change is no longer a distant threat, and we must all do our part to limit global warming to 1.5C. The cost of inaction is just too high and brings substantial risks to humanity and our business. We know that with the right actions and investments we can be part of the solution and reduce the impact on the home we share – our planet – while future proofing our business. For us, it is good business to be a good business."

Ikea joined the revolution for renewable energy early on in 2016 when it set out a plan to generate more renewable energy than it used by 2020. It has since set further targets including the aim to become a carbon neutral company by 2030.