Ikea pledges EUR 100 million for solar expansion

Ikea has said it will spend €100 million on installing solar PV up to 2020. A spokesperson for the Swedish furniture giant told pv magazine the panels will be installed on both existing and new company buildings across the globe.

A further €500 million will be funneled into wind energy projects, while €400 million has been earmarked for the Ikea Foundation, which will use the funds to support communities impacted by climate change.

"Climate change is one of the world’s biggest challenges and we need bold commitments and action to find a solution. That’s why we are going all in to transform our business, to ensure that it is fit for the future and we can have a positive impact,” commented Peter Agnefjäll, president and CEO, Ikea Group.

To date, Ikea has invested €1.5 billion in renewable energy, including 314 offsite wind turbines and the installation of 700,000 PV panels. It has over 322 stores across 28 countries, including 40 in the U.S.