IKEA becomes largest retail investor of wind energy in Canada

IKEA Canada has bought a 46-megawatt, 20-turbine wind farm in Pincher Creek, Alberta, making it the largest wind farm owned by a Canadian retailer.

It's expected to generate 161 gigawatt hours each year – that's more than double the total energy consumption of IKEA Canada, and 60% of IKEA's electricity consumption in North America.

The investment will help the company achieve its goal of energy independence by 2020, IKEA noted in a news release.

“IKEA Canada’s investment in renewable energy is a win-win-win," said Kerri Molinaro, president of IKEA Canada. "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."

Using Siemens turbines, Mainstream Renewable Power will build and operate the farm which is expected to be fully operational by this time next year.

IKEA is also investing in solar energy, with three Ontario stores already sporting solar panels. The company has already invested in wind farms in seven European countries and installed more than half a million solar panels in nine countries.