DUBLIN, Nov. 14, 2013 /CNW/ -
IKEA's second wind farm purchase from Mainstream in three months
Global wind and solar company Mainstream Renewable Power has closed a
deal to sell its 46 megawatt Oldman 2 Wind Farm, located in Alberta
Canada, to IKEA the world's largest furniture retailer. Mainstream has
commenced construction of the project at a cost of approximately
CAD$90m and it is expected to be operational in the autumn of 2014 at
which point IKEA will purchase the plant. As part of the deal
Mainstream will continue to operate and maintain the wind farm on
behalf of IKEA for its lifespan.
(Logo: http://photos.prnewswire.com/prnh/20130606/618541 )
This is the second wind farm IKEA has agreed to purchase from Mainstream
Renewable Power, having announced the signing of a deal for the
Carrickeeny Wind Farm in Ireland in August. The IKEA Group has plans
to invest £1.5bn in wind energy and solar programmes up to 2015. Wind
energy is a key part of IKEA Group's sustainability strategy to
generate as much renewable energy as it consumes by 2020. The project
will be wholly owned by IKEA Canada, making it the largest wind farm
owned by a Canadian retailer.
Commenting on the deal, Mainstream Renewable Power's Chief Executive
Eddie O'Connor said, "Mainstream Renewable Power is delighted to be
partnering once again with IKEA. Partnering with corporations who want
to own wind and solar plant is a very exciting and growing part of
Mainstream's global business. This project is a significant investment
in Alberta's renewable energy future and one that is badly needed.
He continued: This wind farm will deliver power to the Alberta grid at
the prevailing market price and is a clear demonstration that wind
generation is a viable form of electricity production and one that
cannot be ignored."
"IKEA Canada's investment in renewable energy is a win-win-win. We are
able to support the transition to a low-carbon future, reduce our
energy and operating costs, and pass those benefits on to our customers
by continuing to offer high quality home furnishings at low prices,"
says Kerri Molinaro, President of IKEA Canada. "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, producing more renewable
energy than we consume." Ends.
About Mainstream Renewable Power
Mainstream Renewable Power is one of the world's leading independent
developers of renewable energy projects. With a development pipeline of
over 19GW globally it is currently constructing solar and wind farms
across Ireland, South Africa, Chile and Canada.
As Europe's leading independent offshore wind developer Mainstream is
developing just under 8GW of offshore wind projects in England,
Scotland and Germany with 4.45GW of secured grid connection for these
It employs more than 160 experienced staff across four continents with
offices in Berlin, Cape Town, Chicago, Dublin, Glasgow, Johannesburg,
London, Santiago and Toronto.
SOURCE: Mainstream Renewable Power
For further information:
Mainstream Renewable Power