Wednesday, September 22nd, 2021

IKEA invests in First Wind Farm in the U.S.

Posted: Thursday, April 17, 2014

IKEA U.S. announced today that it is making its first wind farm investment in the United States with the purchase of Hoopeston Wind in Hoopeston, Illinois. The 98 megawatt wind farm is the largest single IKEA Group renewable energy investment globally to date and will make a significant contribution to the company’s goal to generate as much renewable energy as the total energy it consumes by 2020. The project is currently being constructed by Apex Clean Energy and is expected to be fully operational by the first half of 2015.

“The U.S. has amazing wind and sun resources that will never run out. We are delighted to make this investment - it is great for jobs, great for energy security, and great for our business. Importantly, it’s great for the future of our climate,” says Steve Howard, chief sustainability officer, IKEA Group.

The announcement was made by Rob Olson, chief financial officer of IKEA U.S., at a business executive briefing by Climate Declaration signatories for members of the Bi-Cameral Task Force on Climate Change focusing on climate-related business impacts, strategies companies are using to lower their carbon footprints, and the policies needed to mitigate climate change and boost clean energy sources.

“We are committed to renewable energy and to running our business in a way that minimizes our carbon emissions, not only because of the environmental impact, but also because it makes good financial sense,” said Olson. “We invest in our own renewable energy sources so that we can control our exposure to fluctuating electricity costs and continue providing great value to our customers.”

The wind farm purchase is also indicative of the IKEA commitment to growth in the United States. IKEA will open three new stores in 2014 and 2015, and last month announced plans to expand its manufacturing partnership with a key U.S. supplier.

Hoopeston Wind is expected to generate up to 380 GWh of renewable energy each year, which is equivalent to any of the following, calculated annually: The electricity needs of 34,000 average American households or a reduction in CO2 emissions equal to taking 55,000 cars off the road.