Charging ahead: Ingka Group’s first renewable energy battery storage project now operational

Ingka Investments (the investment arm of Ingka Group, the largest IKEA retailer) is the owner and operator of the battery storage facility located next to Ingka Investments’ Cameron Wind Farm (a 55 turbine, 165 MW project operational since 2015) in Cameron County, Texas.

The project, which began construction in January 2023, is a standalone 16.4 MW (32.8 MWh) lithium-iron-phosphate battery which will support the Texas power grid and increase reliability amid fluctuations in supply and demand, therefore reducing pricing peaks.

“This is our first battery storage project, and it marks a significant step in our efforts towards supporting the transition towards renewable energy,” said Willem Malda, Ingka Investments’ Renewable Energy Portfolio Operations Manager. “It is part of our additional EUR 1 billion commitment to invest in transitional technology solutions.”

So far Ingka Investments has invested and committed more than EUR 4 billion into renewable energy projects in wind and solar power. In total Ingka Investments has committed to investing EUR 7.5 billion by 2030 to support the wider energy transition towards a renewable future and helping Ingka Group achieve their goal to consume 100% renewable electricity in all countries where they operate by 2025.

Read more about Ingka Group’s sustainability performance and commitments in the Annual & Sustainability Summary report.