Ikea to purchase a second wind farm in Alberta

Par Marie Allimann | 6 février 2017 | Business

This investment is part of the group’s global commitment to produce more renewable energy than it consumes by 2020.

A few days ago, the Swedish giant, which has 12 stores in Canada, announced the acquisition of the Wintering Hills wind farm, located near Drumheller, approximately 130 km east of Calgary, Alberta. With 55 turbines, this farm has the ability to generate 275 million kWh (kilowatt hours) of energy, equivalent to the electricity consumption of 54 Ikea stores or close to 26,000 Canadian households. This is the second investment of its kind for Ikea Canada: in 2013, the group acquired a 46-megawatt wind farm in Pincher Creek, also in Alberta. These two wind farms combined can produce the equivalent of more than four times the amount of energy consumed by Ikea’s Canadian operations.

“We are committed to having a positive impact on people and the planet. 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,” said Brendan Seale, Ikea Canada’s sustainability manager. This new investment is part of Ikea’s sustainability strategy, which the company outlines as: “to inspire and enable millions of people to live a more sustainable life at home; to pursue resource and energy independence; and to take the lead in creating a better life for people and communities.”

Since 2009, the Ikea Group has invested over CAD 2 billion (EUR 1.5 billion) in renewable energy. The company recently announced it would dedicate CAD 1.4 billion (EUR 1 billion) in a financial framework to support its strategy to secure sustainable raw materials by investing in forestry (Ikea already owns forests in Eastern Europe and is looking to expand its forestry portfolio to North America) as well as companies active in recycling and the development of renewable energy and biomaterials. Ikea has also committed to investing an additional CAD 800 million (EUR 600 million) in wind and solar power.