Ireland offshore wind-farm projects backed by Ingka Group continue progressing as part of a broader European renewable energy expansion strategy. The updated status shows that the portfolio, developed in partnership with Source Galileo, remains in active development rather than construction. Moreover, the projects form part of a wider €7.5 billion investment program targeting wind and solar assets across Europe by 2030.

The Irish and UK offshore wind portfolio, in which Ingka Investments secured a 20% stake, is still in the development and permitting phase as of 2026.  Furthermore, the portfolio contributes to a planned 10GW offshore wind pipeline across northwestern Europe.

Ireland offshore wind-farm projects progress amid sector expansion

Ireland offshore wind investment projects continue to gain momentum as national renewable targets drive development activity. The Ingka-backed portfolio aligns with Ireland’s long-term ambition to deliver at least 20GW of offshore wind capacity by 2040.

Meanwhile, the projects remain at early-stage development, focusing on site identification, environmental studies, and regulatory approvals. Developers are also engaging with government bodies to accelerate permitting frameworks and supply chain readiness.

In addition, Ireland’s broader offshore wind sector continues expanding, supported by strong wind resources and policy backing. Current projections indicate the country aims to generate up to 80% of electricity from renewables by 2030.

Construction outlook for Ireland offshore wind-farm projects

The Ingka portfolio highlights a long-term construction pipeline rather than immediate build activity. Developers expect phased project delivery aligned with auction timelines and grid readiness.

However, recent project challenges in Ireland’s offshore sector, including weather-related feasibility issues in other developments, have reinforced the need for robust engineering assessments. Therefore, developers are prioritizing climate resilience and technical viability before committing to construction phases.

Moreover, the partnership with Source Galileo focuses on floating offshore wind technologies, which are better suited to deep-water Atlantic conditions. This approach supports deployment in high-wind zones while reducing seabed constraints.

Moreover, the evolving status of Ireland offshore wind-farm projects contrasts with setbacks seen in other developments such as Sceirde Rocks Offshore Windfarm, where technical and weather-related risks forced project discontinuation, highlighting the importance of site-specific engineering viability in offshore construction.

Other Ireland Offshore Windfarm projects

Source Galileo is currently engaged in the development of a substantial 10 gigawatts (GW) of offshore electricity generation and hydrogen production off the northwestern coasts of Europe and has the potential to power up to one million homes.

This investment aligns with the Climate Action Plan of the respective governments, which aims to connect up to 8GW of onshore and 5GW of offshore wind power to the grid by 2030. The goal is to achieve 80% of electricity generation from renewable sources.

Also read: Polenergia to take control of 686-MW Romanian wind portfolio

Kevin Lynch, CEO of Source Galileo, emphasizes the transformative impact of Ingka Group’s investment, especially as the UK has committed to deploying 50GW of offshore wind by 2030, a substantial increase from the current 14GW. Ireland is also expected to contribute with at least 20GW of offshore wind by 2040 as part of Europe’s climate goals.

In the long term, the Irish Government is targeting an impressive 37GW of electricity generation from offshore wind by 2050. Wind Energy Ireland reports that during September, wind power accounted for 32% of the country’s electricity needs, compared to 25% the previous year.

Source Galileo has already announced plans for five offshore wind farm projects in Ireland, with expected completion dates between 2030 and 2031. Two of these will be located in the Celtic Sea, one off the coast of Cork, one off the coasts of Wicklow and Wexford, and the final one near Malin Head in Donegal.

WHY Ingka Group was Chosen

Ingka Group, based in the Netherlands, is most recognized for operating IKEA stores across 31 different markets. Although IKEA and Ingka were founded by the same individual, Ingvar Kamprad, Ingka operates as a franchise and does not own the IKEA brand. All IKEA franchisees pay a 3% franchise fee to the parent company, with Ingka generating 90% of IKEA’s sales.

Ingka Investments, the investment arm of the world’s largest IKEA franchisee, has confirmed its investment in a portfolio of large-scale offshore wind farm development projects around Ireland and the UK controlled by Source Galileo. Despite significant challenges in developing offshore wind energy potential in Ireland due to planning delays and other issues, this investment signals a commitment to clean energy.

Source Galileo is a joint venture between Source Energie and Galileo Green Energy, backed by Australia’s HRL Morrison, an alternative asset manager with over $18 billion in assets. The wind energy projects are expected to bring economic benefits to local communities and expedite national policies and supply chains to maximize the industry’s potential.

Ingka Investments’ involvement in this project is part of a larger initiative to support 100% renewable energy consumption across the IKEA value chain and beyond, with more than €4 billion already committed to renewable energy projects. Ingka Investments is also collaborating with Source Galileo on an offshore floating wind project in Norway as part of the UtsiraVIND Consortium.

This investment is seen as a significant step towards achieving ambitious offshore wind energy targets in both the UK and Ireland and addressing climate change on a larger scale.

Project Fact Sheet

Project Name: Ingka–Source Galileo Offshore Wind Portfolio

Type: Offshore Wind Energy Development Portfolio

Location: Ireland and United Kingdom (Northwestern Europe offshore zones)

Status (2026): Development and permitting phase

Investment Stake: 20% acquired by Ingka Investments

Total Portfolio Capacity: Approximately 10GW

Total Investment Program: Part of €7.5 billion renewable energy strategy by 2030

Technology Focus: Floating offshore wind and fixed-bottom systems

Energy Output Goal: Large-scale renewable electricity and hydrogen production

Strategic Objective: Support decarbonisation across Europe and IKEA value chain

Development Activities: Site surveys, environmental studies, regulatory approvals

Construction Timeline: Phased, dependent on auctions and grid readiness

Target Markets: Ireland, UK, and broader European offshore wind sector

Project Team

Project owners / developers

• Source Galileo – Lead developer & portfolio manager
• Ingka Investments – Equity investor (20% stake)

Strategic partners (associated with the portfolio ecosystem):

• (Primarily via linked offshore wind collaborations and shared pipeline development)
• Kansai Electric Power – strategic energy partner
• Odfjell Oceanwind – floating wind technology partner

These partners collaborate with Ingka & Source Galileo in the UtsiraVIND consortium, sharing expertise relevant to the wider portfolio.

 Infrastructure / supply chain partners (early-stage)

• Portland Port – port, logistics & construction support partner (PortWind project)

Financial & transaction advisors

• Augusta & Co – financial adviser
• Ashurst – legal adviser

Not yet part of the confirmed project team

• No publicly confirmed appointments yet for:
• Turbine OEMs (e.g., Siemens Gamesa, Vestas, GE)
• EPC contractors
• Cable suppliers
• Installation contractors

This is because the portfolio is still in early development, and these roles are typically awarded closer to FEED / FID stages.

Core team

• Source Galileo
• Ingka Investments
• Strategic ecosystem
• Kansai Electric Power
• Odfjell Oceanwind
• Delivery support (early)
• Portland Port

Advisors

• Augusta & Co
• Ashurst