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11/18/2014

IKEA continues renewables push

The IKEA Group has made its largest investment ever in renewable energy by buying a 165-megawatt wind farm in Cameron County, Tex.


"IKEA believes that the climate challenge requires bold commitment and action," said Rob Olson, president and chief financial officer of IKEA US. "We invest in renewable energy to become more sustainable as a business and also because it makes good business sense. And as a home furnishings retailer with sustainability in our roots, we are committed to providing products and solutions that help our customers be more sustainable in their everyday lives."


Ikea already owns and operates wind farms in nine countries. The company said its latest purchase in the United States will contribute significantly to the goal of producing as much renewable energy as the total energy the company consumes globally. The Cameron Wind farm is expected to be fully operational in late 2015. Earlier this year the IKEA Group bought its first U.S. wind farm in Hoopeston, Ill. The Texas wind farm will be more than one-and-a-half times the size of the Illinois project.


The IKEA Hoopeston and Cameron wind farms are expected to generate nearly 1,000 gigawatt hours of electricity per year, which is equivalent to the average annual electricity consumption of around 90,000 American households. The IKEA Group has committed to own and operate 279 wind turbines in nine countries, and will invest a total of $1.9 billion in wind and solar power through 2015.


Cameron County is located in a particularly favorable wind area in the south of Texas, which is the leading state in the United States for wind energy production. The wind farm will be fully owned by the IKEA Group and will be constructed and managed by renewable energy company Apex Clean Energy. The project will use 55 Acciona Windpower 3-megawatt turbines.


The IKEA Group currently has 315 stores in 27 countries. There are 40 IKEA stores in the United States.