An affiliate of IKEA Holding US Inc. has completed its acquisition of a 49% stake in the upstream owner of three utility-scale solar energy projects in Rich County, Utah.
IRI Investments US Inc. acquired the membership stake in Sponsor VK I HoldCo LLC, the indirect upstream owner of the 26.4-MW Sage I, 26.4-MW Sage II and 23.3-MW Sage III solar projects.
Output of the projects will be sold under 20-year power contracts with PacifiCorp.
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 approved the transaction Nov. 25. (FERC docket EC19-137)