A 165-megawatt Cameron wind farm in Southern Texas was purchased by Ikea, the world’s largest furniture retailer. This gave way to the rise of the company’s most extensive renewable energy investment to date which they will soon call “Ikea Wind Farm.”
Ikea will carry out several wind projects in nine countries when the Cameron wind farm is finished by the end of 2015 according to Almhult, a Sweden-based company.
Apex is putting together the Ikea Wind Farm using 55 Acciona SA 3-megawatt turbines, even though terms of the purchase from Apex Clean Energy Inc. were not made known yet.
Wind farm projects show IKEA’s commitment to the future
Ikea has made arrangements to put in a full amount investment of $1.9 billion in wind as well as in solar panel installations when the year 2015 finishes off.
Rob Olson, the acting president and chief financial officer of Ikea’s U.S. unit has conveyed information that Ikea will carry on acquiring power plants to converge its objective of yielding as much renewable energy as it uses globally in the impending years to come.
IKEA renewable project seeks to counterbalance energy management
“We see the necessity to counterbalance the energy management,” said Olson. He looks forward to the project to conveying a positive return. Whenever they see to investments, they also weigh up the return. To them, it is an involvement of being a viable and maintainable establishment.
To this point, Ikea has completed solar panel installations, adding up to over 165,000 solar panels installed on 90% of its office structures in the United States with 38 megawatts of capacity. Apex likewise extended Ikea’s first U.S. wind farm, which it bought in April. The company has also invested in other wind farms in several countries like Canada, Denmark, France, Germany, Ireland, Poland, Sweden and the U.K.
