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IKEA’s Investment Arm Partners with Apex Clean Energy to Launch Battery Storage Project in Texas

ESGIKEA's Investment Arm Partners with Apex Clean Energy to Launch Battery Storage Project in Texas

Ingka Investments, the investment arm of IKEA’s parent company, has partnered with renewable energy firm Apex Clean Storage to launch its first battery storage project, named Cameron Storage. This 16.4 MW project, situated alongside the Cameron Wind Farm in Texas, will enhance the reliability of the Texas power grid by mitigating energy supply fluctuations. It is scheduled to commence commercial operations in October.

Energy storage solutions are gaining prominence in the transition to cleaner energy sources, addressing the intermittent nature of renewables like wind and solar. These storage systems help ensure round-the-clock energy supply while reducing wastage.

This project aligns with Ingka Investments’ 2021 pledge to expand its renewable energy investments to €6.5 billion by 2030. Already, Ingka has invested over €3.5 billion in renewables since 2009, managing wind turbines, solar parks, and solar panels on IKEA rooftops across numerous countries.

The initiative contributes to IKEA’s goal of becoming climate positive, offsetting more greenhouse gas emissions than its entire value chain emits by 2030.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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