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Ikea to Purchase Wind Farm in Canada From Mainstream Renewable

Nov. 14 (Bloomberg) -- Ikea Group, the largest home-furnishings retailer, plans to buy a 46-megawatt wind farm in Alberta, Canada, from Mainstream Renewable Power Ltd.

Mainstream, which has begun construction on the C$90 million ($86 million) project, will operate and maintain the wind farm after it’s completed in the second half of next year, the Dublin-based developer said today in a statement.

“This wind farm in Alberta, along with existing solar installations at three of our Ontario stores, is a significant step to achieving Ikea’s global ambition to be energy independent by 2020,” Kerri Molinaro, president of IKEA Canada, said in the statement.

Ikea in August agreed to buy a wind farm in Ireland from Mainstream as part of the retailer’s plan to invest 1.5 billion pounds ($2.4 billion) in wind and solar by 2015.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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