IKEA mitigates energy costs and carbon footprint with Irish acquisition
As part of plans to invest £1.5bn in renewable energy projects before 2015, IKEA has agreed the purchase of an Irish wind farm - it's first in the country.
IKEA has committed to generating as much renewable energy as it consumes by 2020, and, according to it's 2012 report, had reached 34% by the end of last year.
The latest purchase, a 7.65MW four-turbine wind farm in Carrickeeny, will bring the total number of turbines owned by the furniture retail giant to 137. The energy produced at Carrickeeny, estimated to be 25GWh per annum, will be used to power IKEA's two Irish stores, in Belfast and Dublin, via a contract with Irish energy supply company Vayu.
Under the terms of the agreement, IKEA will purchase the farm from Mainstream Renewable Power as soon as it is operational. The deal is expected to complete early next year and Mainstream will continue to operate and maintain it for its 20-year lifespan.
Commenting on the acquisition agreement, IKEA UK and Ireland head of sustainability Joanna Yarrow said: "Companies, individuals or governments - we all have responsibility to address the resource dilemma and commit to a more sustainable future. Producing our own affordable, renewable electricity gets us one step closer to becoming completely energy independent by 2020, while ensuring our commercial success."