IKEA to buy Canadian wind farm from Mainstream for CAD$90m

14 Nov 2013

Mainstream Renewable Power is to sell its 46-megawatt wind farm in Alberta, Canada, to global furniture retailer IKEA for CAD$90m.

Construction on the 20 turbine, 46-megawatt Oldman 2 wind farm in Alberta has commenced and it is expected to be operational in the autumn of 2014.

Once operational, IKEA will buy the plant from Mainstream, which will continue to maintain the wind farm for IKEA for the rest of its lifespan.

“Partnering with corporations who want to own wind and solar plants is a very exciting and growing part of Mainstream’s global business,” said Mainstream’s CEO Eddie O’Connor.

“This project is a significant investment in Alberta’s renewable energy future and one that is badly needed.”

IKEA – the jolly green retail giant

This is the second wind farm that IKEA has bought from Mainstream in three months. In August, IKEA bought the Carickeeny wind farm in Ireland.

IKEA plans to invest stg£1.5bn in wind energy and solar programmes up to 2015.

“IKEA Canada’s investment in renewable energy is a win-win-win,” said Kerri Molinaro, president of IKEA Canada.

“We are able to support the transition to a low-carbon future, reduce our energy and operating costs, and pass those benefits on to our customers by continuing to offer high quality home furnishings at low prices.

“This wind farm in Alberta, along with existing solar installations at three of our Ontario stores, is a significant step to achieving IKEA’s global ambition to be energy independent by 2020, producing more renewable energy than we consume,” Molinaro added.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years