ib vogt sells ready-to-build asset to Ingka Investments
Ib vogt has completed a transaction with Ingka Investments for the sale and purchase of a 210MWp ready-to-build solar project in Rajasthan.
The company said the project is Ingka Investments’ first utility-scale renewable energy investment in India.
It added that the deal supports Ingka Group’s commitment to power all operations with 100% renewable energy by 2030.
ib vogt said it secured the land, completed feasibility and design work, and obtained grid connectivity and regulatory approvals for the project.
The company will oversee construction and provide operations management for the first three years.
It said the 210MWp installation is expected to generate about 380GWh of renewable electricity each year.
Andreas Schell, ib vogt chief executive officer, said: “We are proud to support Ingka Investments on their first utility-scale renewable energy project in India.”
He added: “This transaction advances sustainability goals while delivering strong economic value through clean energy.”
He said: “With our proven track record, high engineering standards, and trusted suppliers, the project represents a low-risk, long-term investment.”
He added: “India is one of Asia’s most dynamic renewable energy markets, and this partnership reflects our commitment to delivering high-quality, large-scale projects with lasting environmental and economic impact.”
Parish Gupta, regional director at ib vogt Solar India, said: “We are delighted with this transaction.”
He added: “It underscores ib vogt’s sophisticated development capabilities and global execution standards.”
He said: “What sets ib vogt apart is our experienced local development teams and established partnerships, combined with governance rigour comparable to the world’s leading renewable energy platforms.”
He added: “This milestone reinforces our position as a trusted partner for large-scale renewable energy investments in India.”
Frederik de Jong, head of renewable energy at Ingka Investments, said: “This is a milestone acquisition for us it marks the first renewable energy investment for Ingka Investments in Indiaa country of utmost importance both for IKEA retail and the IKEA supply chain.”
He added: “The new solar project in India will produce 380 GWh of renewable energy annuallymore than enough to power our growing retail, shopping centre, and distribution operations.”
He said: “It’s a big step in making our retail business in India more sustainable, efficient, and future-ready.”
