Ingka Group invests in first US solar parks

Ingka Group (Ingka Holding B.V. and its controlled entities) strategic partner to IKEA franchisee system, has reached agreement with Copenhagen Infrastructure Partners (CIP) to acquire a 49% stake in two Solar PV projects in Utah and Texas. With a total of 403 megawatt capacity this development ranks among the larger Solar Photovoltaic (PV) projects in the United States.

“CIP is pleased to enter into this long-term partnership with Ingka Group, a company that shares a similar perspective as CIP on the importance of clean energy resources.  Combining CIP’s industrial background and asset management expertise with Ingka Group’s ambitious corporate sustainability goals, our partnership will provide low cost and renewable power to the Texas and Utah markets,” says Christian Skakkebaek, Senior Partner, from Copenhagen Infrastructure Partners.

You can read the full press release on IKEA’s website.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, Taipei, New York, Tokyo, Utrecht, and London.

CIP manages six funds and has more than EUR 8 bn under management. CI I, CI A I and CI A II have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.

CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.