Ingka Investments Continues to Champion Renewable Energy with Oxan

November 18, 2024  by Karen Parrish in Business Strategy, Industry   

Partners with strong assets and expertise in France and worldwide

Both Ingka Investments and Oxan Energy are experienced players in offshore wind energy with a strong track record and a long-term vision.

Ingka Investments has invested, in various partnerships, in over 10GW offshore wind capacity across six countries, now adding France as a seventh market. In France, Ingka Group already has an existing operational portfolio of seven onshore wind farms, one solar farm and more than 57,000 solar panels over 23 IKEA stores and warehouses. As Ingka Group’s third-largest market, France remains a key focus for future investments, driven by the company’s extensive activities in the region.

Globally, Ingka Investments has 47 wind farms and 13 solar farms in operation across 16 countries. As part of a EUR 7.5 billion initiative to support 100 percent renewable energy consumption across the value chain and beyond, Ingka Investments has invested and committed more than EUR 4 billion into renewable energy projects in wind and solar power.

Frederik de Jong, Head of Renewable Energy at Ingka Investments says, “Offshore wind has a huge potential to contribute to Europe’s decarbonized energy goals, and we are looking forward to the next steps of this partnership in France.”

Based in France, Oxan Energy will provide the necessary skills and competences to develop floating offshore wind projects having participated in numerous tenders and projects of floating offshore wind in France and worldwide. Nicolas Paul-Dauphin, Founder and CEO of Oxan Energy, says, “We are delighted to collaborate with Ingka Investments, a strong and strategic partner, for the French market. France offers interesting perspectives, given the volume and visibility of the next offshore wind tenders.”

Start of the tender process

The prequalification announcement represents the start of the next phase in the tender process, the competitive dialogue, during which the French authorities will outline the detailed criteria of the tender rules and define the maritime zones where the projects will be located more precisely. The tender was launched in the framework of France´s ambition to place offshore wind power at the core of its energy transition strategy. The four projects are expected to be awarded in autumn 2025 and commissioned between 2032 and 2034.