IKEA has completed its first renewable energy investment in Russia, with a total investment of $270 million

IKEA parent company Ingka Group has agreed to buy a 49% stake in eight solar parks in Russia from Solar Systems LLC with a total value of more than ₽21 billion ($272.16 million), marking the company’s first renewable energy investment in Russia.
IKEA’s goal is to be climate-positive by 2030 from the production of raw materials to the disposal of furniture by customers. To help achieve this goal, Ingka Group hopes to accelerate its investment in renewable energy, particularly focusing on Russia and China.

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