Under the deal, Mainstream will continue to run and maintain the plant for its operating life. The project will use Siemens 2.3MW turbines with a 101-metre rotor.
Ikea has been investing in wind power since 2010, and in August the retailer bought Mainstream's 7.65MW Carrickeeny wind farm in Ireland. In 2011, the company took its capacity to 100MW with the acquisition a 12.3MW project in Scotland, UK.
Ikea has plans to invest C$1.5 billion in wind energy and solar programmes through to 2015. The company has said that wind power is a key part in its plan to generate enough renewable energy to cover its own power consumption by 2020.
"This wind farm in Alberta, along with existing solar installations at three of our Ontario stores, is a significant step to achieving Ikea's global ambition to be energy independent by 2020, producing more renewable energy than we consume," said Kerri Molinaro, president of Ikea Canada.
Mainstream CEO Eddie O'Connor added: "Partnering with corporations who want to own wind and solar plant is a very exciting and a growing part of Mainstream's global business. This project is a significant investment in Alberta's renewable energy future and one that is badly needed."
Mainstream said it has invested C$90 million (US$ 86 million), but did not reveal what Ikea will pay for the project.