Ikea Retailer Acquires 49% Stake in Eight Solar Parks in Russia
Ikea branded paper bags.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The investment arm of Ikea’s largest retailer, Ingka Group, is expanding its renewable energy footprint by acquiring a 49% stake in eight solar parks in Russia.
The agreement for the parks, with a total book asset value of about 235 million euros ($279 million), has been struck with Solar Systems LLC and is now awaiting approval from the Russian competition authority, according to a statement.