ib vogt and Ingka Group ink renewable energy deal in Rajasthan

The project will generate 380 GWh of renewable electricity annually.

ib vogt and Ingka Investments, the investment arm of Ingka Group, have completed a transaction for the sale and purchase of a 210 megawatt-peak ready-to-build solar project in Rajasthan, India.

“The project marks Ingka Investments’ first utility-scale renewable energy investment in India and supports Ingka Group’s commitment to power all its operations with 100% renewable energy by 2030,” ib vogt said.

ib vogt secured the land, completed feasibility and design work, and obtained all necessary grid connectivity and regulatory approvals for the project. The company will oversee construction and provide operations management for the first three years.

Once operational, the project is expected to generate approximately 380 gigawatt-hours of renewable electricity annually, providing more than enough clean energy to power Ingka Group’s expanding retail, distribution, and shopping centre operations across India.

Ernst & Young LLP acted as exclusive M&A adviser to ib vogt, with Saraf & Partners and Emerald Law Offices providing legal advisory services.