March 31 (Renewables Now) - German solar developer Enerparc AG has sold a solar photovoltaic (PV) portfolio in southeastern Australia with a total capacity of 193 MWp to Ingka Investments, a company part of the Netherlands-based parent group of Swedish furniture retailer Ikea.
The portfolio comprises three ground-mounted projects located in the state of New South Wales. The farms are expected to have a combined annual output of 340 GWh which is enough to meet the electricity needs of about 65,000 households, a statement said.
Two of the PV parks are operational and have a cumulative capacity of 13.3 MWp. They are located in the towns of Peak Hill and Trundle, near Parkes. The third one is a 180-MWp utility-scale project expected to be commissioned at the end of 2025.
The financial details of the transaction were kept under wraps.
Enerparc, which entered the Australian market in 2017, noted in the statement that the deal includes its first operational projects in Australia and the largest development of its local team to date at about 180 MWp.
The transaction with the German developer comes as the latest renewables investment of the Ingka Group subsidiary in Australia in 2023. Ingka Investments in February agreed to buy a minority stake in the 1,300-MW Golden Plains wind project in Victoria.
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