The IKEA Group Makes Largest Wind Farm Investment to Date
165 MW Cameron Wind Farm in Texas Is Single Largest IKEA Renewable Energy Investment Globally
Conshohocken, PA – November 18, 2014 – 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 wind farm will contribute significantly to the IKEA Group 2020 goal of producing as much renewable energy as the total energy the company consumes globally. The Cameron Wind farm is expected to be fully operational in late 2015.
Earlier this year IKEA Group announced its first U.S. wind farm purchase located in Hoopeston, Illinois. The Cameron Wind farm will be more than one-and-a-half times the size of the Hoopeston project. Together, the IKEA Hoopeston and Cameron wind farms 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.[1]
“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.”
IKEA Group has now committed to own and operate 279 wind turbines in nine countries, and will invest a total of $1.9 billion[2] in wind and solar power up to the end of 2015. IKEA has also taken steps to further the development of a low-carbon economy by supporting key initiatives including the People’s Climate March, UN Climate Summit, RE100, and the Climate Declaration.
Mark Kenber, CEO of the non-profit organization The Climate Group, said: “IKEA was one of the first major companies to recognize that tackling climate change makes good business sense. IKEA has set commendable renewable energy targets for its own company, and its actions are positively influencing business practices and the energy market. It has played an instrumental role in setting up ‘RE100’, The Climate Group’s global initiative to support businesses in switching to 100% renewable power.”
IKEA renewable energy investments in the U.S. to date now include: 104 wind turbines located on wind farms in Hoopeston and Cameron; 165,000 solar panels installed on 90% of IKEA buildings across the U.S., providing an additional 38 megawatts installed capacity; and geothermal integrated into the heating and cooling systems of two U.S. store locations, in Centennial, Colorado, and Merriam, Kansas.
Cameron Wind is located in a particularly favorable wind area in the south of Texas, which is the leading state in the U.S. for wind energy production. The wind farm will be fully owned by the IKEA Group and will be constructed and managed by renewable energy company Apex Clean Energy. The project will use 55 Acciona Windpower 3-megawatt turbines.
“Apex is excited to partner with IKEA once again to bring clean, renewable energy from wind to market in the U.S.,” added Apex President, Mark Goodwin. “Both companies understand that this abundant resource is great for the planet, great for our business and great for our shared future.”
[1] Calculated using the U.S. Energy Information Administration’s ‘Average Residential Monthly Bill by Census Division and State’
[2] Calculated at 11/17/14 exchange rate (EUR1=$1.25). IKEA Group made the EUR1.5 billion commitment in 2009.
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About IKEA
The IKEA vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. The IKEA Group currently has 315 stores in 27 countries. There are 40 IKEA stores in the United States. In FY14, the IKEA Group had 716 million visitors to the stores and 1.5 billion visitors to IKEA.com. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, visit IKEA-USA.com, facebook.com/IKEAUSA, @IKEAUSANews, @IKEAUSA, http://pinterest.com/IKEAUSA/, www.youtube.com/IKEAUSA, www.theshare-space.com, www.theshare-space.com/en/Blog
About Apex Clean Energy
Apex Clean Energy is an independent renewable energy company based in Charlottesville, VA. Since its founding in 2009, Apex has become one of the fastest-growing companies in the industry. In 2012, Apex completed the 300 MW Canadian Hills wind energy project. The company currently has 265 MW of new renewable energy facilities under construction and an additional 750 MW contracted and scheduled for completion in 2015. Apex also has a diversified portfolio of wind energy facilities in development around the country and owns several operating solar PV assets. The company’s management team comprises experts from throughout the industry whose collective prior experience includes the development, financing, construction and operation of over $10 billion in wind and solar energy facilities now operating in the United States.
Contact Information
Mona Astra Liss
IKEA US Corporate PR Director
Mona.Liss@IKEA.com
610.834.0180, ext. 5852