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Ikea to Double Renewable Energy Investment by 2020

Ikea Group, the world’s biggest furniture retailer, will double its investment in renewable energy to $4 billion by 2020 as part of a drive to reduce costs as cash-strapped consumers become more price sensitive.

The additional spending on projects such as wind farms and solar parks will be needed to keep expenses down as the company maintains its pace of expansion, Chief Executive Officer and President Mikael Ohlsson said in an interview in Malmo, Sweden.