Ikea buying Ireland wind farm as part of plans to invest £1.5B in wind and solar energy by 2015, become energy-independent by 2020; company owns 137 wind turbines

Cindy Allen

August 14, 2013 (Bloomberg LP) – Ikea Group, the world’s biggest home-furnishings retailer, plans to buy a wind farm in Ireland from Mainstream Renewable Power Ltd. as part of plans to invest 1.5 billion pounds ($2.3 billion) in wind and solar by 2015.

Mainstream is building the 7.65-megawatt project in Leitrim in northwest Ireland, Dublin-based Mainstream said today in an e-mailed statement. It’s expected to start operating early next year, at which point Ikea will buy the plant, Mainstream said.

“Our investments in renewable energy not only help to reduce carbon dioxide emissions from our operations in Ireland, but also, together with our energy-efficiency efforts, help to control our electricity costs so we can pass any benefits to our customers,” Joanna Yarrow, head of sustainability at Ikea U.K., said in the statement.

Ikea plans to invest 1.5 billion pounds in wind and solar energy to help become energy independent by 2020. It now owns 137 wind turbines, according to the statement.

--Editors: Todd White, Tony Barrett

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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