Global wind and solar company Mainstream Renewable Power has closed a deal to sell its 46MW Oldman 2 Wind Farm, located in Alberta Canada, to IKEA. Mainstream has commenced construction of the project at a cost of approximately $90 million and 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.
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 GBP 1.5 billion in wind energy and solar programs 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 owned by IKEA Canada, making it the largest wind farm owned by a Canadian retailer.
“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,” Mainstream Renewable Power’s Chief Executive, Eddie O’Connor, said.
Read more wind energy news