IKEA is investing $2.8 billion in renewable energy infrastructure

Anne Quito
IKEA is investing $2.8 billion in renewable energy infrastructure

The world’s largest furniture company is determined to go off-grid, and it’s developing an affordable solar energy program to convince you to do the same. Timed for the UN Climate Action Summit in New York next week, IKEA’s holding company Ingka Group revealed that it has invested €2.5 billion ($2.76 billion) in solar and wind energy systems over the last decade to power its global operations. The Leiden-based unit, which controls 367 of IKEA’s 423 retail outlets, already has a stake in two solar parks in the US, a wind farm in Romania, 534 wind turbines in 14 countries, and nearly a million solar panel units on stores, distribution centers, and administrative buildings.