IKEA acquires 165MW wind farm in US from Apex Clean Energy

19 November 2014 (Last Updated November 19th, 2014 18:30)

IKEA Group has acquired a 165MW wind farm in Cameron County, Texas, US, from renewable energy firm Apex Clean Energy.

IKEA Group has acquired a 165MW wind farm in Cameron County, Texas, US, from renewable energy firm Apex Clean Energy.

The agreement is the largest renewable energy investment for the IKEA Group worldwide and its second wind project in the US.

The facility is scheduled to be fully operational by late 2015 and will be equipped with 55 Acciona 3MW turbines.

"IKEA believes that the climate challenge requires bold commitment and action."

Located in southern Texas with favourable winds, the Cameron Wind facility will be fully owned by the IKEA Group, while Apex Clean Energy will be responsible for its construction and management.

IKEA US acting president and CFO Rob Olson said: "IKEA believes that the climate challenge requires bold commitment and action.

"We invest in renewable energy to become more sustainable as a business and also because it makes good business sense."

IKEA has also bought the 98MW Hoopeston project in Illinois, and the two projects will produce approximately 1,000GW per year, enough to supply around 90,000 US homes.

Apex president Mark Goodwin said: "Apex is excited to partner with IKEA once again to bring clean, renewable energy from wind to market in the US

"Both companies understand that this abundant resource is great for the planet, great for our business and great for our shared future."

Energy