Ingka Group, the owner of most IKEA stores worldwide, has bought nine solar photovoltaic (PV) park projects in Germany and Spain for a total of 340 million euros ($373 million) in its push to generate more renewable energy than it consumes.
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The world's biggest furniture retailer said on Wednesday it was buying the projects, which would have a combined capacity of 440 megawatts, from German developer Enerparc.
IKEA as a whole aims to be climate positive, or reduce greenhouse gas emissions by more than its entire value chain emits, by 2030.
