Peter Betzel, the CEO & Chief Suitability Officer, Ikea India, said, “India has tremendous renewable energy potential. And IKEA aims to have all its stores, warehouses and shopping centers run entirely by renewable energy by 2025.”
IKEA, the world’s largest organized furniture retailer & has two stores in India currently, plans to power its stores, warehouses & shopping centers entirely on renewable energy by 2025.
Peter Betzel stated, “India has tremendous renewable energy potential and IKEA aims to have all its stores, warehouses and shopping centers run entirely by renewable energy by 2025. Today, 85% of our energy requirement in India is supplied from external sources. We would like to secure current and future energy requirements from renewable energy sources. Ingka investments are considering India favorably for investments in renewable energy plants.”
Further, he added, “India, however, needs a more stable policy environment that will encourage more companies to shift to renewable energy and attract investments in the sector.”
Recently, Ingka Group, which owned the bulk of IKEA stores worldwide, acquired a 49% stake in 8 solar PV parks in Russia. The company maintained that the parks have an energy capacity equivalent to 160 MW, which will generate sufficient electricity to all 17 IKEA stores in Russia as well as part of MEGA’s shopping centers.
The Ingka Group announced an additional investment of 4 billion euros over the next decade to support the furniture retailer’s transition to the renewable energy future. In the last decade, the Ingka Group has invested EUR 2.5 billion in the onsite and offsite wind and solar power in renewable energy.
“We are in the most important decade in the history of humankind – climate change is no longer a distant threat, and we must all do our part to limit global warming to 1.5°C. The cost of inaction is just too high and brings substantial risks to our business and humanity. We know that with the right investments we can be part of the solution and reduce the impact on the home we share – our planet – while future-proofing our business,” said Jesper Brodin, CEO, Ingka Group.
Ingka Group owns and manages 547 wind turbines, 10 solar parks in 15 countries and 935,000 solar panels on the roofs of IKEA stores and warehouses, bringing its total installed renewable energy power to more than 1.7 Gigawatt.
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