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United States

Ikea makes biggest wind purchase

UNITED STATES: Ikea has acquired a 165MW wind project in Texas from Apex Clean Energy for an undisclosed sum.

Ikea intends to generate 100% of its power from renewable sources by 2020
Ikea intends to generate 100% of its power from renewable sources by 2020

The furniture retailer also announced Acciona has been chosen to install 55 3MW turbines on the project.

The project will be owned by Ikea, but will be built and operated by Apex. It is expected to be fully operational by the end of 2015.

Financial terms of the deal were not revealed. Although it claims it is its biggest acquisition to date, both financially and project capacity.

Ikea bought its first wind development in the US earlier this year when it purchased the 98MW Hoopeston wind farm in Illinois.

The Swedish firm has a goal of generating 100% of its energy from renewable sources by 2020. It has acquired, or agreed to acquire 279 turbines across nine countries, and intends to invest a total of $1.9 billion in wind and solar projects by the end of 2015.

Ikea has been investing in wind power since 2010 when it bought six German wind projects with a combined capacity of 45MW from Gamesa.

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