IKEA Canada has signed agreements to acquire an 88-MW wind farm located near Drumheller, Alberta about 130 km east of Calgary. The Wintering Hills wind farm will consist of 55 turbines that generate 275 million kWh (kilowatt hours) of energy, which is equivalent to the electricity consumption of 54 IKEA stores.
The new wind investment reaffirms IKEA commitment to produce more renewable energy than it consumes by 2020.
“We are committed to having a positive impact on people and the planet,” said Brendan Seale, Sustainability Manager, IKEA Canada. “This investment in renewable energy supports our business and moves us closer to our global ambition to produce more renewable energy than we consume by 2020.”
This is IKEA Canada’s second such investment in renewable energy in Alberta following the purchase of a 46-MW wind farm in Pincher Creek in 2013. Together, these two wind farms will produce the equivalent of more than four times the energy that IKEA Group operations consume in Canada.
This wind farm investment is part of a broader investment approach to support core business and strategic objectives. The completion of the transaction is expected in two to three weeks pending customary closing conditions.
IKEA Group has allocated over EUR 3 billion to become resource and energy independent. Since 2009, the IKEA Group has invested EUR 1.5 billion in renewable energy and has committed an additional EUR 600 million for investments in wind and solar energy.
Filed Under: News, Projects
