IKEA purchases 7.65 MW wind farm

IKEA has announced plans to purchase a 7.65 MW wind farm in north-west Ireland as part of its plan to generate as much renewable energy as it consumes by 2020. The furniture retailer will purchase the plant from Mainstream Renewable Power in early 2014, once construction has been completed.

As part of the deal, Mainstream will continue to operate and maintain the wind farm on behalf of IKEA for its 20-year life span.

IKEA plans to invest £1.5 billion in wind energy and solar programs between now and 2015. This acquisition will take the total number of wind turbines the company has committed to owning to 137.

“Mainstream Renewable Power is delighted to be partnering with IKEA, a true world leader in corporate sustainability,” said Eddie O’Connor, Mainstream’s Chief Executive.

“Partnering with corporations who want to own wind and solar plants is a very exciting and 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.

“Owning wind and solar plants makes a lot of sense for them on a number of levels. As the cost of the fuel is free, the more of it they have the more stability and certainty they have in relation to their energy costs in the long term. On top of that, the more forward-thinking corporations are investing in wind and solar energy as part of their sustainability strategy, and IKEA is a fantastic example of this.”

“Our investments in renewable energy not only help to reduce carbon dioxide emissions from our operations in Ireland but also, together with our energy efficiency efforts, help to control our electricity costs so we can pass any benefits to our customers by continuing to offer high-quality home furnishings at low prices,” said Joanna Yarrow, Head of Sustainability IKEA UK and Ireland.

“Producing our own affordable, renewable electricity gets us one step closer to becoming completely energy independent by 2020, while ensuring our commercial success.”