Ingka Investment, the investment arm of Ikea owner Ingka Group, has agreed to buy a 49% stake in two more large Baltic Sea wind projects in Sweden from OX2, which could combine offshore wind with hydrogen and e-fuel production.

The Nordic developer will receive an initial payment of about SKr230m ($22.3m) for the stakes in the Pleione project east of the Baltic Sea Island of Gotland and the Neptunus project southeast of the southern Swedish province of Blekinge, which have a combined capacity of 2.4GW.