From pv magazine Germany
The group's investment arm, Ingka Investments, concluded a four-year supply agreement with the Swiss photovoltaic manufacturer for solar modules manufactured at Meyer Burger's US plant in Goodyear, Arizona, to be shipped between 2025 and 2029.
The agreement is one of two contracts that prompted Meyer Burger to increase annual production capacity at the US plant from 1.6 GW to 2 GW. Ingka Investments will ensure a substantial annual advance payment to enable Meyer Burger to procure and finance machinery as well as raw materials for solar module production.
The two companies did not disclose the financial and quantitative terms of the deal. “We are very pleased to be working with Ingka Investments, who will support us with the rapid ramp-up of our production in the USA through this off-take agreement,” said Daniel Menzel, COO of Meyer Burger.
Ikea parent company Ingka Holding unveiled in March a plan to invest €340 million ($375.1 million) to acquire seven solar parks under development by Enerparc in Germany and Spain. At the time, the furniture giant also said it wanted to refresh the Solstrale offer for residential PV applications, which was launched in 2019.
Ikea is also trying to cover its own electricity needs with renewable energy. Its goal is to become climate-neutral throughout the world by 2030.
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