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IKEA Holding US affiliate to purchase stake in 3 solar projects in Utah

An affiliate of IKEA Holding US Inc. is proposing to acquire 49% membership interests in the indirect upstream owner of three utility-scale photovoltaic solar energy projects in Rich County, Utah.

IRI Investments US Inc. will acquire membership stake in Sponsor VK I HoldCo LLC, the indirect upstream owner of the 26.4-MWdc Sage I, 26.4-MWdc Sage II and 23.3-MWdc Sage III solar projects.

The projects are interconnected with a transmission system owned and operated by PacifiCorp. Output of the projects will be sold under 20-year power contracts with PacifiCorp. The projects are slated to enter commercial operation in the third quarter of 2019.

Sponsor VK I HoldCo LLC is an indirect subsidiary of investment funds in the form of Danish limited partnerships managed by Copenhagen Infrastructure Partners II P/S. IRI Investments is ultimately owned by INGKA Holding BV.

The Federal Energy Regulatory Commission is requested to approve the transaction by Oct. 10. (FERC docket EC19-137)