Ingka Investments, the owner of IKEA, has upped its share by 15% in the $4 billion Golden Plains Windfarm near Geelong, Victoria, as the project gradually ramps up power generation. 

The 1,333 MW wind farm recently started supplying energy to the grid, although production is still intermittent due to some, let's say, 'assembly required.'  

Turbine issues—including, in true flat-pack fashion, the occasional part dropping mid-installation—have halted construction in spots, prompting the setup of buffer zones around affected turbines. 

However, IKEA's parent company hopes its bigger stake in this renewable mega-project will be the key to unlocking the wind farm's potential. The additional investment will help fund TagEnergy's 577 MW second phase, now under construction, aiming to smooth out the current project wrinkles and help it finally reach full production. 

Despite facing issues with loose blade components on Vestas turbines, TagEnergy has completed the project's grid connection in record time, surpassing the previous largest Australian wind project, the 923 MW MacIntyre project in Queensland.  

TagEnergy's CEO Franck Woitiez highlighted the company's "innovative commercial approach" to accelerating large-scale renewables, which has been bolstered by government policy support. 

"We have shown our innovative commercial approach brings large-scale projects to life faster," CEO Franck Woitiez said in a statement. "We will continue to innovate to deliver more projects to speed the transition, and the Government's supportive policy landscape will facilitate that. 

"Throughout the project's development, we were buoyed by the confidence those at the forefront of the energy transition showed in TagEnergy's ability to deliver large-scale renewables projects, from our lenders to the Victorian and Australian Governments and the Australian Energy Market Operator." 

Looking ahead, TagEnergy is pursuing larger wind initiatives, such as a potential 2,000 MW facility in New South Wales. Ingka plans to use its stake in Golden Plains to help reduce its environmental footprint, integrating renewable energy in its operations, including IKEA stores and distribution centres, as part of its global sustainability goals. 

TagEnergy secured significant utility contracts with EnergyAustralia, Snowy Hydro, and data company Equinix and is also seeking federal underwriting under the Capacity Investment Scheme. This would allow the company to reallocate resources toward other wind projects, such as The Pines in NSW and Mt Fox in Queensland, and explore a potential battery addition to Golden Plains. 

The project, slated for completion by 2027, is Vestas's largest onshore wind initiative, featuring 215 turbines. However, turbine issues have led Vestas to impose a safety exclusion zone around 47 turbines for inspection, with further advisories issued after strong winds dislodged serrations on additional turbines.  

TagEnergy's Australian managing director, Andrew Riggs, called the incidents "minor" given the project's scale, adding that Vestas remains committed to swiftly addressing the issues.