Solar Systems and the Investment division of Ingka Group signed documents on the entry of Ingka Group into the capital of Solar Systems subsidiaries that own solar power plants in the Volgograd, Astrakhan regions and the Republic of Bashkortostan with a total installed capacity of 160 MW. Under the terms of the signed agreement, after receiving the approval of the transaction by the FAS of Russia, Ingka Group will receive a 49% stake in Sunlight Energy LLC, Fifth Project Company LLC, and Sixth Project Company LLC.

Solar Systems is pleased to have a strategic partnership with an international company that shares the values of sustainable development and sets ambitious goals for achieving carbon neutrality.

About Solar Systems: Solar Systems LLC is a large developer of renewable energy projects in the Russian Federation. The company was established in 2014. The current projects portfolio exceeds 400 MW.

About Ingka Group: Ingka Group has three business lines (IKEA Retail, Ingka Investments and Ingka Centers) and operates 389 IKEA stores in 32 countries. Today, Ingka Group owns and operates 547 wind turbines in 14 countries, 2 solar parks, and 935,000 solar panels on the roofs of IKEA stores and warehouses, with a total installed renewable energy capacity of more than 1.7 GW.

Solar Systems and Ingka Group start joint projects in the field of solar energy in the Russian Federation

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