The owner of IKEA, Ingka Group, has confirmed it has acquired an 80% stake in seven south-east Romanian wind farm entities from Vestas.
The Danish turbine manufacturer said last month it agreed to sell its shares in the entities for €136m.
The acquisition comprises a total 64 turbines with a combined installed capacity of 171MW.
The deal marks Ingka’s first foray into the renewables space in Romania and is the 14th country where it has invested in wind.
The combined generation of the wind farms exceeds the electricity consumption of the IKEA supply chain in Romania, it said.
“The 80% stake supports our target to generate as much renewable energy as we consume and the investment brings us one step closer to reaching our 2020 goal”, added Ingka Investments managing director Krister Mattsson.
Ingka now owns and operates 900,000 solar modules on its sites and 534 wind turbines in 14 countries.
Vestas meanwhile said the deal is part of its strategy to “partner with our customers in project development and asset management.”