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Ikea Buys Illinois Wind Farm in Global Renewables Push

April 10 (Bloomberg) -- Ikea, the world’s largest furniture retailer, bought a wind farm under construction in Illinois, it’s first in the U.S. and its largest renewable-energy investment to date.

The 98-megawatt wind project in Hoopeston, about 110 miles (176 kilometers) northwest of Indianapolis, is expected to be complete in the first half of next year, Almhult, Sweden-based Ikea said today in a statement. Terms of the deal weren’t disclosed.

Ikea is seeking to produce as much renewable power as the company consumes by 2020, and the Hoopeston plant will meet about 18 percent of the company’s total global demand. The wind farm will produce enough electricity for about 34,000 U.S. homes, or about 165 percent of the company’s U.S. electricity consumption from 38 stores, five distribution centers, two service centers and a factory.

Apex Clean Energy Inc. is building the project using 49 turbines from Vestas Wind Systems A/S. Ikea has invested in wind farms in Canada, Denmark, France, Germany, Ireland, Poland, Sweden and the U.K., including a November deal to buy a 46-megawatt wind farm in Alberta.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Tina Davis

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