IKEA has agreed to buy the 7.65MW Carrickeeny Wind Farm in Ireland from developer Mainstream Renewable Power.
Mainstream has commenced construction of the project which is located in Leitrim in the North West of Ireland and it is expected to be operational in early 2014 at which point IKEA will purchase the plant.
As part of the deal Mainstream will continue operate and maintain the wind farm on behalf of IKEA for its 20 year lifespan.
The IKEA Group has plans to invest £1.5bn in wind energy and solar programmes up to 2015. Wind energy is a key part of IKEA Group’s sustainability strategy to generate as much renewable energy as it consumes by 2020.
This acquisition will increase the total number of wind turbines that the IKEA Group has committed to owning and operating to 137.
Commenting on the deal, Mainstream Renewable Power chief executive Eddie O’Connor said: “Mainstream Renewable Power is delighted to be partnering with IKEA, a true world leader in corporate sustainability. Partnering with corporations who want to own wind and solar plant is a very exciting and growing part of Mainstream’s global business. We are being approached by a growing number of energy-intensive corporations in the retail, IT and mining sectors who want to invest in our large portfolio of wind and solar plant being developed across four continents.
He continued: Owning wind and solar plant makes a lot of sense for them on a number of levels. As the cost of the fuel is free the more of it they have the more stability and certainty they have in relation to their energy costs in the long-term. On top of that the more forward –thinking corporations are investing in wind and solar energy as part of their sustainability strategy, and IKEA is a fantastic example of this.”