Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, has launched its first renewable energy project in India: a 210 MWp solar installation in Bikaner, Rajasthan. The project, part of the company’s INR 10 billion (EUR 97.5 million) commitment to renewable energy in India, has reached ready-to-build status, with construction set to begin shortly and operations expected to start in December 2026. The facility is projected to generate 380 GWh of clean energy annually, according to the press release.
Frederik de Jong, Head of Renewable Energy at Ingka Investments, said, “This marks a milestone for us as our first renewable energy investment in India, a key market for both IKEA retail and our supply chain. The new solar project will produce more than enough energy to power our retail, shopping centre, and distribution operations, helping make our business in India more sustainable, efficient, and future-ready.”
The investment forms part of Ingka Group’s broader EUR 7.5 billion pledge to achieve 100 percent renewable energy consumption across its value chain by 2030. Globally, Ingka Investments has already invested and committed EUR 4.2 billion in wind and solar projects.
In India, Ingka Investments is collaborating with ib vogt, a German-based large-scale solar PV developer with a strong local presence. ib vogt Solar India will manage construction and the first three years of operations. The project is expected to create around 450 local jobs during construction and 10 to 15 positions during operations.
Patrik Antoni, CEO of IKEA India, said, “Sustainability is central to everything we do at IKEA. Over the past eight years, we’ve invested in making our retail journey more sustainable. Two of our stores in Bangalore and Navi Mumbai are LEED Gold certified, and we are aiming for Platinum certification in Gurugram and Noida. As a founding member of RE100, we plan to power all operations with 100% renewable energy by 2025. This new solar investment, alongside our zero-emission EV deliveries and energy-saving initiatives, contributes to a cleaner, more sustainable future for India.”
Operating in 31 countries, Ingka Group is committed to the Paris Agreement and limiting global warming to 1.5°C. In November 2023, the company strengthened its climate targets in line with the Science Based Targets initiative (SBTi) Corporate Net-Zero Standard. Approved in April 2024, these targets include a commitment to reduce absolute greenhouse gas emissions from the value chain by at least 50% by FY2030 compared to FY2016, and achieve net-zero emissions by 2050 without relying on carbon offsets.
