Ingka Investments Join Hands with Apex Clean Energy for 16.4 MW Battery Storage Project in Texas

Ingka Investments (the investment arm of Ingka Group, the largest IKEA retailer) and Apex Clean Energy announced 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.

The 16.4 MW project, which will begin operations in the coming weeks, is co-located with Ingka Investments’ Cameron Wind Farm, a 55 turbine, 165 MW project operational since 2015. Commercial operations will commence in October 2023.

As part of a EUR 6.5 billion initiative to support of 100 percent renewable energy consumption across the IKEA value chain and beyond, Ingka Investments has invested and committed more than EUR 3.5 billion into renewable energy projects.

Cameron Storage, located in Cameron County, Texas, is part of Ingka Group’s steps across the business to help achieve the IKEA commitment to becoming climate positive by 2030. As the largest IKEA franchisee, it has an important part to play in achieving these commitments, for example, switching to renewable energy, transitioning to zero emission home deliveries, offering circular services, and more.

Ingka Investments and Apex have been partnering in renewable energy projects for more than eight years. Apex has previously sold two wind farms to Ingka Group; 165 MW Cameron Wind and 98 MW Hoopeston Wind, which are managed by the renewable energy company.

“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.

“For more than a decade, IKEA has charted the course for the corporate sector in investing in clean energy solutions, and today, Cameron Storage builds on that record of leadership,” said Ken Young, Apex Clean Energy CEO. “Utility-scale energy storage unlocks the full potential of clean power to decarbonize our economy while providing increased reliability and certainty for our electric grid.”