Making the purchase from Russian firm Solar Systems LLC, (est. 2014), it is thought the Ingka Group acquisition is part of IKEA’s stated aims of becoming ‘climate positive’ by the end of the decade.
Solar Systems’ own stated plans over the next 12 months includes adding solar plants in six areas of Russia to their already 400 MW strong portfolio.
The six areas are all in Southern Russia in the vast open plains between western Kazakhstan and the politically sensitive Ukraine.
It is also understood China may be next on the horizon for the Ingka Group to further increase investments in renewables; a link made in the Solar Systems LLC (SSLLC) purchase with two of seven members of the SSLLC board from China, including Deputy Chairman of the Board of Directors, Cui Zhiwei.
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