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Ikea buys Romanian wind farm stakes from Vestas

Posted On September 13, 2019 at 12:30 pm by / No Comments


Ikea’s parent group has emerged as the buyer of 80% of Vestas’ stakes in a clutch of Romanian wind farms.

Ingka Group will pay the Danish wind giant €136m ($151m) for the project shareholdings, which it said totals 64 turbines and 171MW.

Vestas revealed the sale of the assets in August without naming the buyer. The deal is still subject to regulatory approval.

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Ikea is among the most ambitious retailers globally pursuing clean energy goals, with a 2020 target of meeting its entire power consumption needs with electricity from renewable sources. It said the Romanian wind assets produce power equivalent to the needs of 65 Ikea stores.

The group ventured into offshore wind investments earlier this year for the first time with a stake in the Veja Mate array off Germany.

Morten Dyrholm, group senior vice president of Vestas for marketing, communications and public affairs, said the Romanian deal “is part of Vestas’ strategy to partner with our customers in project development and asset management. It represents another step in our strong relationship with IKEA, as we work to make their operations more sustainable”.

Earlier this week it emerged that Romania’s 600MW Fantanele-Cogealac wind complex, for many years Europe’s largest onshore wind farm, has been put up for sale by owner CEZ.



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