Ikea acquires second U.S. wind farm in Texas

Home furnishings giant Ikea has acquired a second U.S. wind farm in Cameron County, Texas, representing its largest renewable energy investment globally to date, it said.

 

Home furnishings giant Ikea has acquired a second U.S. wind farm in Cameron County, Texas, representing its largest renewable energy investment globally to date, it said.

 

It did not disclose the price.

 

The retailer acquired the 165-megawatt wind farm from Apex Clean Energy and said it “will contribute significantly to the Ikea Group 2020 goal of producing as much renewable energy as the total energy the company consumes globally.” The wind farm is expected to be fully operational late next year.

 

Earlier this year, the retailer bought a smaller U.S. wind farm in Hoopeston, Ill. Combined, the two facilities are expected to generate nearly 1,000 gigawatt hours of electricity per year, equivalent to the average annual electricity consumption of about 90,000 American households, it said.

 

“Ikea believes that the climate challenge requires bold commitment and action,” Rob Olson, Ikea U.S. acting president and chief financial officer, said in a statement.

 

Ikea Group has committed to own and operate 279 wind turbines in nine countries and said it will invest $1.9 billion in wind and solar power through the end of 2015.

 

In the release, Mark Kenber, CEO of nonprofit The Climate Group, said Ikea “was one of the first major companies to recognize that tackling climate change makes good business sense,” and added that the company has positively influenced others businesses and the energy market.

 

In addition to its 104 U.S. wind turbines, Ikea’s U.S. renewable investments include 165,000 solar panels installed on 90% of its buildings, and geothermal integrated into the heating and cooling systems at stores in Centennial, Colo., and Merriam, Kan.

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