IKEA’s Ingka Investments enters India’s renewable energy market

Ingka Investments, the €50 billion family office of IKEA, has acquired 241 MW of solar and wind assets in Rajasthan from ib vogt, a Germany-based company. The deal, valued between Rs 1,200–1,400 crore, marks Ingka’s first investment in India’s renewable energy sector.

The acquisition is part of Ingka’s global plan to invest €7.5 billion in renewable energy by 2030, with a focus on utility-scale wind and solar projects that advance the energy transition and expand its sustainability portfolio.

Rajasthan was selected for its strong solar and wind resources, available land, and supportive regulatory framework. The state’s renewable infrastructure and connectivity make it attractive for international investors seeking to scale clean energy projects.

Recent Indian policy reforms, including a 5% Goods and Services Tax on renewable energy devices, have improved the feasibility of such investments. These measures aim to encourage the adoption of clean energy technologies by businesses and households.

The projects are expected to generate employment through construction, operations, and maintenance, while supporting regional economic development and ancillary industries in the energy sector.

By investing in India, Ingka contributes to the country’s goal of achieving 500 GW of non-fossil fuel capacity by 2030 and supports energy security by reducing reliance on fossil fuels. The company also aims to implement global best practices, ensuring efficient project execution and sustainable environmental management.

Ingka Investments’ entry into Rajasthan’s renewable sector highlights its commitment to sustainability and participation in India’s clean energy growth.