Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, said it has made a 100% stake investment in a subsidy-free 210 MWp solar project located in Bikaner, Rajasthan, India as part of it’s ₹1,000 crore investment plan in renewable energy in India.
The solar project has reached ready-to-build status and construction will start shortly. Start of operations is scheduled in December 2026. The total expected production is 380 GWh per year, the company said.
Frederik de Jong, Head of Renewable Energy at Ingka Investments, said: “This is a milestone acquisition for us – it marks the first renewable energy investment for Ingka Investments in India – a country of outmost importance both for IKEA retail and the IKEA supply chain.”
“The new solar project in India will produce 380 GWh of renewable energy annually – more than enough to power our growing retail, shopping centre, and distribution operations. It’s a big step in making our retail business in India more sustainable, efficient, and future-ready,” he said.
As part of a global commitment, EUR 7.5 billion has been committed to support 100 percent renewable energy consumption across the value chain and beyond by 2030. Ingka Investments has invested and committed EUR 4.2 billion into renewable energy projects in wind and solar power worldwide.
In India, the company is working with ib vogt, an integrated large-scale solar PV developer headquartered in Germany with a strong presence in India and is developing, constructing, and operating various large scale RE projects across India.
ib vogt Solar India will also be the partner for construction and the first three years of operations. The construction and operations of the solar project will provide significant local employment estimated around 450 people during construction and 10 to 15 during operations, the company said.
Patrik Antoni, CEO, IKEA India said, “Over the past eight years, we have invested in making our retail journey more sustainable. Designed with energy efficiency at the core, two of our large-format stores (Bangalore and Navi Mumbai) are LEED Gold certified, and we are working towards Platinum certification in Gurugram and Noida.
Published – October 31, 2025 10:37 pm IST
