The Netherlands-based firm Ingka Investments has announced its acquisition of a 49% stake in a 460-MWp portfolio of early-stage solar photovoltaic projects in Italy.
Avapa Energy Srl, a renewables developer based in Bologna, sold the stake for an undisclosed price. The projects are located in the regions of Veneto, Puglia, Molise, Sicily, and Sardinia. Avapa Energy is currently in the process of securing building permits for them.
Ingka Investments has not disclosed the number of projects included in the portfolio. It said the solar farms could generate around 780 GWh of electricity once up and running.
Ingka Investments serves as the investment arm of Ingka Group, the largest retailer of IKEA.
Peter van der Poel, Managing Director of Ingka Investments, expressed, “With our own solar parks, we aim to make renewable energy available throughout the IKEA value chain and beyond.”
