The furniture retailer is to buy the Carrickeeny wind farm in County Leitrim, north-west Ireland, once it has been constructed in 2014. As part of the deal, Mainstream will continue to operate the project on behalf of Ikea for 20 years.
Ikea said it aims to spend EUR 1.74 billion on solar and wind energy to 2015. The project will use four Enercon E82-E2 wind turbines.
Speaking about the deal, Mainstream CEO Eddie O'Connor said: "Partnering with corporations who want to own wind and solar plant is a very exciting and a growing part of Mainstream's global business. We are being approached by a growing number of energy-intensive corporations in the retail, IT and mining sectors who want to invest in our large portfolio of wind and solar plant being developed across four continents."
Ikea has been investing in European wind power since 2010. In 2011, the company took its capacity to 100MW with the acquisition a 12.3MW project in Scotland, UK.
The company also has projects in Germany and Sweden.