IKEA Makes Largest Renewable Energy Investment to Date

IKEA Renewable Energy
IKEA Renewable Energy

The IKEA brand is synonymous with furniture that requires some assembly and renewable energy.  The Swedish retailer has committed to corporate sustainability with a 2020 goal of producing as much renewable energy as the total energy the company consumes globally.  In pursuit of this goal, the company has been aggressively investing in  rooftop solar installations, developing geothermal generation and purchasing wind farms.

So it was no surprise that the  IKEA Group announced today that it has purchased its second wind farm in the United States from Apex Clean Energy: a 165-megawatt wind farm in Cameron County, Texas. This represents the single largest renewable energy investment made by the IKEA Group globally to date. The company purchased its first U.S. wind farm earlier this year in Hoopeston, Illinois.  The Cameron Wind farm is over one-and-a-half times the size of the Hoopeston project and together they are expected to generate nearly 1,000 gigawatt hours of electricity per year, which is equivalent to the average annual electricity consumption of around 90,000 American households.

“IKEA believes that the climate challenge requires bold commitment and action,” says Rob Olson, IKEA US Acting President and CFO. “We invest in renewable energy to become more sustainable as a business and also because it makes good business sense. And as a home furnishings retailer with sustainability in our roots, we are committed to providing products and solutions that help our customers be more sustainable in their everyday lives.”

The IKEA Group has now committed to own and operate 279 wind turbines in nine countries, and will invest a total of $1.9 billion in wind and solar power up to the end of 2015.  IKEA renewable energy investments in the U.S. to date now include:

  • 104 wind tubines located on wind farms in Hoopeston and Cameron
  • 165,000 solar panels installed on 90% of IKEA buildings across the U.S.
  • geothermal integrated into the heating and cooling systems of two U.S. store locations in Kansas and Colorado

Cameron Wind Project Details

  • located in the favorable wind area of south Texas
  • will be fully owned by IKEA
  • construction and management will be done by Apex Clean Energy
  • 55 Acciona 3 megawatt turbines will be used

IKEA is the poster child for corporate sustainability making good business sense.  Visit one because of the renewable energy, stay for the furniture and meatballs!

Tracey Smith About Tracey Smith

Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women’s Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.