IKEA buys 80% stake in Romanian wind farms from VestasChristian Fernsby ▼ | September 13, 2019
Ingka Group, which owns most IKEA stores, said on Friday it would buy an 80% stake in seven Romanian wind farms from wind turbine maker Vestas for 136 million euros (122 million pounds).
Acquisition Romanian wind farm
Topics: IKEA Romania wind farm Vestas
"The 80% stake supports our target to generate as much renewable energy as we consume and the investment brings us one step closer to reaching our 2020 goal," Ingka Investments head Krister Mattsson said in a statement.
Ingka Group said it now owned and operated 900,000 solar modules on its sites and 534 wind turbines in 14 countries.
The company said that although the transaction had been signed, it still awaited regulatory approval, with final closing expected in October. ■