Ingka Group, which owns the IKEA chain stores, has announced on Friday it would buy an 80% stake that Vestas has in seven wind farms in Romania. The transaction mounts to EUR 136 million (USD 151 million), Reuters reports.
According to Ingka Group, the acquisition consists of 64 turbines producing 171 megawatts of power and comes after a previous stake purchase in Germany’s second-biggest offshore wind farm earlier this year.
The transaction is still pending regulatory approval and the final closing is expected next month.
Overall, Ingka Group owns now 900,000 solar modules on its sites and 534 wind turbines in 14 countries.
Danish wind turbine maker Vestas currently has over 86 GW of wind turbines under service in more than 80 countries and employs 24,500 globally. The company entered the Romanian market in 2008.
At the end of August, Vestas unveiled there is an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for EUR 136 million.