Lucy Pilgrim is an in-house writer for EME Outlook Magazine, where she is responsible for interviewing corporate executives and crafting original features for the magazine, corporate...
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Ingka Group, a major IKEA retailer, has acquired its first two solar parks in Spain, strengthening its renewable energy presence in Iberia – a key market for the company.
Ingka Group, the largest IKEA retailer, is reinforcing its commitment to renewable energy in Iberia following the acquisition of its first two solar parks in Spain.
The move expands the company’s renewable energy presence in one of its key markets and builds on a global investment strategy that has already seen €4.3 billion invested or committed in renewable energy projects through Ingka Investments.
The acquisitions comprise the operational La Oliva solar farm in Toledo and a second solar park in Los Alcázares, Murcia.
Currently generating an estimated 51 gigawatt hours (GWh) of electricity annually, La Oliva is already contributing renewable power to Spain’s grid, whilst the Murcia project is expected to deliver a further 55GWh each year. Combined, the two sites will provide around 106GWh of renewable energy annually, adding to the country’s expanding clean energy capacity.
Against a backdrop of continued energy price volatility and supply uncertainty across Europe, Ingka Group believes the projects will strengthen both local renewable generation and wider regional energy resilience.
Frederik de Jong, Head of Renewable Energy at Ingka Investments, explained the strategic importance of the investment.
“At a time when Europe continues to face energy price volatility and supply uncertainty, the projects in Villasequilla (Toledo) and Los Alcázares (Murcia) reinforce the region’s ability to build resilience and strengthen the interconnected energy system.
“The energy challenges of recent years have shown how essential it is for Europe to strengthen both local production and cross-border resilience. Spain’s exceptional solar conditions allow us to contribute meaningfully to that effort. Iberia is a prioritised market for us, and these investments are designed to support a more reliable, affordable and sustainable energy system for the long term.”
The Spanish solar parks form part of a wider programme of renewable energy investment across the Iberian Peninsula.
In neighbouring Portugal, Ingka Investments is enhancing its existing wind farm by adding solar panels to create a hybrid renewable energy asset. The project is intended to increase energy output, improve grid stability, and maximise the value of existing infrastructure.
Once the Spanish solar parks and Portuguese hybrid project are fully integrated, Ingka Investments’ renewable energy production across Iberia will total 323GWh annually, with further expansion planned.
Beyond increasing renewable generation, the investments reflect Ingka Group’s ambition to support a more resilient and interconnected European energy system.
Karen Pflug, Chief Sustainability Officer of Ingka Group, believes expanding renewable infrastructure will be key to meeting both climate and energy security objectives.
Karen Pflug, Chief Sustainability Officer, Ingka Group
“Strengthening Europe’s renewable energy capacity is essential for both climate progress and long-term stability. By expanding our footprint in Spain and creating hybrid wind and solar assets in Portugal, we’re helping build a more flexible and interconnected energy system. As a global retailer, we believe it’s important to help build energy resilience and security in the regions where we operate.”
Karen Pflug, Chief Sustainability Officer, Ingka Group
A LONG-TERM COMMITMENT
As Europe continues to navigate evolving energy challenges, Ingka Group’s latest investments demonstrate how major businesses can contribute to strengthening domestic renewable energy production and supporting national energy ambitions.
By investing in new renewable capacity across Spain and Portugal, the company is seeking to diversify energy sources, improve regional energy interdependence, and help accelerate the transition towards a more sustainable energy future.
This article was produced by the editorial team at EME Outlook and published as part of the Outlook Publishing global network of B2B industry magazines.
Outlook Publishing delivers industry insights, company stories, and sector coverage across manufacturing, mining, construction, healthcare, supply chains, food production, and sustainability.
EME Outlook provides ongoing coverage of organisations and developments shaping industries across Europe and the Middle East.
Lucy Pilgrim is an in-house writer for EME Outlook Magazine, where she is responsible for interviewing corporate executives and crafting original features for the magazine, corporate brochures, and the digital platform.
