IKEA Foundation and Rockefeller set up a historic US$1b initiative to catalyze investments in distributed renewable energy

WORLD – The IKEA Foundation and The Rockefeller Foundation have announced they will join forces to set up a US$1 billion global platform to fight climate change and energy poverty. The platform, which is set to be launched this year 2021 aims to reduce 1 billion tons of greenhouse gas emissions and to empower 1 billion people with distributed renewable energy (DRE), a renewable energy generated from sources such as mini-grid and off-grid solutions, located near the point of use, rather than centralized sources like power plants. The new global…

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Furniture company IKEA set to open second store in Morocco

MOROCCO – Following the success of the IKEA department store in Casablanca, INGKA Holding, the department store’s parent company, has announced its plans to launch Morocco’s second Ikea store in Tetouan. Swedish furniture giant has invested MAD 400 million (US$45.4m) into the new department store that will boost the Tangier-Tetouan-Al Hoceima region’s economy. The new department store will cover an area of 16,100 square meter area, which will consist of a 3,700 square meter showroom, a 3,450 square meter market hall, along with Ikea’s first restaurant with a terrace. It…

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