Ingka Group, the largest IKEA retailer, has acquired its first two solar parks in Spain, marking an important step in strengthening its renewable energy presence in Iberia – one of its prioritised markets.
These Iberian projects sit within Ingka Group’s extensive global renewable energy portfolio, with €4.3 billion already invested or committed worldwide.
Ingka Investments, the company’s investment arm, has acquired two solar parks: the Toledo solar farm “La Oliva”, which is already operational and generating an estimated 51 GWh annually, and the Murcia site, which will add another 55 GWh per year. Together, the two parks will deliver 106 GWh of renewable energy annually – supporting Spain’s growing renewable energy capacity at a moment when additional, home‑grown production is increasingly important.
This move highlights Ingka Group’s long‑term commitment to Iberia. Alongside the new solar parks in Spain, Ingka Investments recently hybridised its wind farm in Portugal by adding solar panels – boosting output, improving grid stability and maximising existing infrastructure. With the new Spanish solar parks and the hybrid asset in Portugal, Ingka Investments’ renewable production in Iberia will reach 323 GWh annually, with the ambition of further growth.
Frederik de Jong, Head of Renewable Energy at Ingka Investments, said: “At a time when Europe continues to face energy price volatility and supply uncertainty, the projects in Villasequilla (Toledo) and Los Alcázares (Murcia) reinforce the region’s ability to build resilience and strengthen the interconnected energy system.
“The energy challenges of recent years have shown how essential it is for Europe to strengthen both local production and cross‑border resilience. Spain’s exceptional solar conditions allow us to contribute meaningfully to that effort. Iberia is a prioritised market for us, and these investments are designed to support a more reliable, affordable and sustainable energy system for the long term.”
Karen Pflug, Chief Sustainability Officer of Ingka Group, added: “Strengthening Europe’s renewable energy capacity is essential for both climate progress and long‑term stability. By expanding our footprint in Spain and creating hybrid wind and solar assets in Portugal, we’re helping build a more flexible and interconnected energy system. As a global retailer, we believe it’s important to help build energy resilience and security in the regions where we operate.”
