New Delhi, October 31, 2025: Ingka Investments, the investment arm of Ingka Group—the largest IKEA retailer globally—has announced its first renewable energy investment in India with a 100% stake acquisition in a 210 MWp solar project in Bikaner, Rajasthan. This initiative marks a key milestone in the company’s INR 10 billion renewable energy commitment to India and reinforces IKEA’s global goal of achieving 100% renewable energy consumption by 2030.
The solar installation, developed in partnership with ib vogt, a Germany-based integrated solar PV developer, is expected to produce 380 GWh of renewable energy annually—enough to power IKEA’s expanding retail, shopping centre, and distribution operations in India. The project has reached the ready-to-build stage, with construction set to begin shortly and operations expected to commence by December 2026.
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 utmost 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.”
The construction phase of the project is expected to create approximately 450 jobs, with an additional 10–15 employment opportunities during operations. The collaboration with ib vogt will cover construction and the first three years of operations, ensuring high efficiency and adherence to global renewable energy standards.
Patrik Antoni, CEO, IKEA India, said: “At IKEA, sustainability is at the heart of everything we do. Over the past eight years, we've 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. As a founding member of RE100, we are on track to power our operations with 100% renewable energy by 2025. We're also proud of our 100% zero-emission EV deliveries in key cities and are committed to expanding this across all future markets. With EV charging stations in our stores and energy-saving solutions for our customers, and now also an investment in a solar project, we’re inspiring positive change and contributing to a cleaner, more sustainable future for India.”
Globally, Ingka Investments has committed EUR 7.5 billion by 2030 to support utility-scale wind and solar projects and has already invested and committed EUR 4.2 billion toward renewable energy across 31 markets.
As part of its long-term sustainability vision, Ingka Group is aligned with the Paris Agreement and the Science Based Targets initiative (SBTi), committing to reduce greenhouse gas emissions across its value chain by at least 50% by FY30 (from an FY16 baseline) and achieve net-zero emissions by 2050, without relying on carbon offsets.
With this solar investment, Ingka Group further strengthens its role as a global leader in renewable energy and reaffirms its commitment to driving India’s clean energy transition and sustainable development goals.
x
.jpg)
.jpg)
