Ingka Holding B.V., the key owner of IKEA retail stores worldwide, has announced its green energy expansion strategy in Asia, focusing on South Korea and Japan. The company is prioritizing offshore wind energy to decrease carbon emissions from its operations and supply chain.
Strategic Investments in Offshore Wind
Peter van der Poel, the manager of Ingka Investments, spoke with Reuters about the company’s ambition and its pursuit for renewable energy projects in these new markets. Facing high land costs in Asia, Ingka finds offshore wind investments particularly attractive. Japan’s national goal to achieve 10 gigawatts of offshore wind power by 2030 and 45 gigawatts by 2040 dovetails with Ingka’s objective to diversify its green energy portfolio and aid in global decarbonization.
A Commitment to Green Energy
Ingka has dedicated 7.5 billion euros to renewable energy projects up until 2030, with 4 billion euros already invested. Holding a capacity of 2.5 gigawatts from its current renewable sources, Ingka is establishing itself as a significant player in the clean energy industry. Despite challenges such as rising costs, inflation, and logistical hurdles, Ingka is optimistic about the prospects of offshore wind energy.
The company recently made headlines by bidding in Norway’s first commercial offshore wind farm auction in collaboration with Parkwind, which has links to Japan. Their plan involves setting up 90 wind turbines, each with a capacity of 17 megawatts, aiming for operational status by 2030. This initiative underscores Ingka’s dedication to renewable energy and its innovative strategies to address environmental issues.
Ikea Pioneering Green Energy Expansion in Asia
Ingka’s venture into the Asian markets, particularly South Korea and Japan, marks a significant strategic shift towards sustainable energy. Ikea’s green energy expansion not only underlines the company’s vision for a greener future but also positions Ingka as a driving force in the global renewable energy domain.
With this ambitious move, Ingka is set to significantly contribute to the renewable energy landscape, promoting sustainability and leading by example in corporate environmental responsibility.
