Commercial, Energy Storage - September 7, 2023
Ingka Investments Partners for Battery Storage Project
Ingka Investments, the investment arm of Ingka Group — the largest IKEA retailer — entered into a partnership for the company’s first-ever battery storage project, Cameron Storage.
The standalone lithium-ion battery will support the Texas power grid and increase reliability amid fluctuations in supply and demand.
Ingka Investments partnered with Apex Clean Energy for the 16.4 MW project, which is expected to begin operations in the coming weeks and is co-located with Ingka Investments’ Cameron Wind farm, a 55-turbine, 165 MW project operational since 2015.
Cameron Storage is located in Cameron County, Texas. The project is part of Ingka Group’s plans to help IKEA achieve its commitment to becoming climate positive by 2030.
“This is an important step in our journey towards becoming climate positive. Going forward we aim to invest in a mix of wind, solar, and energy storage. Investing in all three technologies will help to provide renewable energy during more hours of the year and optimize the use of our grid connections,” said Peter van der Poel, managing director at Ingka Investments in a statement.
Ingka Investments has invested and committed over €3.5 billion into renewable energy projects.
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