January 9 (Renewables Now) - Swedish furniture retailer Ikea announced on Monday that it has signed an agreement to buy a 50-MW in Portugal through a local subsidiary.
Ikea did not disclose the value of the deal.
Named Parque Eolico Pisco, the facility has been in operation for a whole year. Located between Aguiar da Beira, Sernacelhe, Fornos de Algodres and Trancoso, the plant is comprised of 25 wind turbines and has aн annual production of 156 GWh, Ikea said.
With this acquisition, Ikea gets closer to its energy self-sufficiency goal, which is part of the company's sustainability strategy. Aside from this wind investment, the group also has more than 11,000 rooftop solar panels installed at its Portuguese stores.
Currently, the acquisition is under evaluation by Portugal's Competition Authority (AdC) and, once it is approved, will allow Ikea Portugal to fully own the Pisco wind farm.