Ingka Investments, the Netherlands-based investment arm of Ingka Holding, has started construction of a 300 MW solar plant in Butimanu, Romania. Ingka Investments has acquired the project in 2023 and said it was construction-ready, planned in two phases, and valued above €200 million (~ $228 million). The project is being developed through Butimanu Energy and was approved the same year by the Romanian Energy Regulatory Authority. ANRE has granted a permit for 247 MW capacity and approved a 223 MW grid connection for the solar facility. The plant is expected to generate electricity sufficient to meet the annual consumption of nearly 170,000 Romanian households. Across 19 countries, Ingka Investments has managed 594 wind turbines and 29 solar parks, producing approximately 5 TWh of electricity annually.