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- Ingka Investments and Apex Clean Energy have partnered on a 16.4 MW battery storage project in Cameron County, Texas.
- The project is co-located with Ingka Investments’ Cameron Wind Farm.
- The project is part of Ingka Group’s commitment to becoming climate positive by 2030.
- The project is expected to be operational in the coming weeks.
- The project is expected to cost $20 million.
The investment arm of Ingka Group, the largest IKEA retailer, and Apex Clean Energy have partnered on a 16.4 MW battery storage project in Cameron County, Texas. The standalone lithium-ion battery will support the Texas power grid and increase reliability amid fluctuations in supply and demand. The project is expected to cost $20 million and is expected to offset approximately 10,000 metric tons of carbon dioxide emissions per year.
The project is co-located with Ingka Investments’ Cameron Wind Farm, a 55 turbine, 165 MW project operational since 2015. It is part of Ingka Group’s commitment to becoming climate positive by 2030.
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The project is being funded by a combination of equity and debt financing. The battery storage project is expected to create approximately 50 jobs during construction and 10 permanent jobs once it is operational. The project is supported by the Cameron County Economic Development Corporation.
“This is an important step in our journey towards becoming climate positive,” said Peter van der Poel, managing director at Ingka Investments. “Going forward we aim to invest in a mix of wind, solar and energy storage.”
“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,” said Ken Young, Apex Clean Energy CEO.
The project is expected to be operational in the coming weeks.