Swedish furniture giant IKEA has struck an agreement with Canadian firms TransAlta and Teck Resources to buy an 88MW onshore wind farm in Alberta, Canada.
The deal, announced this week, will see IKEA buy TransAlta’s 51 per cent stake in the Wintering Hills wind farm for around CAD$61m and Teck Resource’s 49 per cent stake for CAD$58.6m – making the total deal worth around CAD$120m.
The 55-turbine farm generates enough clean electricity to power 54 IKEA stories or almost 26,000 Canadian households, IKEA said in a statement.
It is the second windfarm purchase for IKEA in Canada, following its acquisition of the 46MW wind farm in Pincher Creek in 2013. Once the sale of Wintering Hills is completed – expected in two to three weeks – IKEA will produce enough clean energy from the two farms to power its Canadian operations four times over, it said.
The purchase marks a step forward in the firm’s €3bn global plan to become a net energy producer by 2020. “We are committed to having a positive impact on people and the planet,” said IKEA Canada sustainability manager Brendan Seale said in a statement. “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.”