Ingka Investments acquires 15% of Golden Plains Wind Farm stage 2

The project will be completed in mid-2027.

Ingka Investments has made another investment in the 1,333 megawatt (MW) Golden Plains Wind Farm located in Victoria, Australia, giving it another 15% stake this time in the project’s 577-MW Stage 2.

In a statement, the company said this continues its partnership with TagEnergy following the first investment for Stage 1 in 2023, which was Ingka Investments’ first major utility scale renewable energy investment in Australia.

“Similar to its pro-rata ownership stake in Stage 1, Ingka Investments will be able to claim up to 15 percent of Stage 2’s output of electricity and use it to reduce the local Ingka Group climate footprint,” a company statement read.

The 756-MW Stage 1, which consists of 215 turbines, has started operating and can power up to 765,000 Australian homes.

Stage 2, meanwhile, is expected to be completed in mid-2027.

“This move comes as we are accelerating our investments in renewable energy and circularity to support Ingka Group’s net-zero science-based targets and commitment to reach net-zero by 2050,” said Ingka Investments Head of Renewable Energy, Frederik de Jong.