Ikea-owner Ingka Investments has agreed to buy a 15% stake in Tag Energy’s 756MW Golden Plains Stage One wind farm in Victoria, Australia.
The 756MW project is set to feature 122 turbines, indicating an average power rating of about 6.2MW.
A second 576MW stage would bring the Golden Plains complex’s capacity to a combined 1.3GW.
The deal for 15% of Golden Plains Stage One is Ingka’s first investment in Australian renewable energy. Ingka will count 15% of the project’s output towards its goal of reaching net-zero by 2050 at the latest.
It has previously bought into offshore wind farms off the coasts of Germany and Sweden.
Following the financial close of the Golden Plains deal, Ingka will own 15% and Tag Energy will own 85%. The original developer Westwind is providing asset management services for the project.
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