IKEA US has purchased Hoopeston Wind in Hoopeston, Vermilion County, Illinois. The 98MW wind project is being built by Apex Clean Energy, and is slated to be fully operational in the first half of 2015.
The Hoopeston Wind project will be equipped with 49 Vestas V100-2.0MW turbines and is expected to generate around 380 GWh of renewable energy per year.
IKEA Group will own the complete stake in the project, and Apex will manage the wind farm.
IKEA US chief financial officer Rob Olson said the company is committed to renewable energy to minimise carbon emissions.
"We invest in our own renewable energy sources so that we can control our exposure to fluctuating electricity costs and continue providing great value to our customers," Olson added.
Apex Clean Energy president Mark Goodwin said the project with IKEA US is an opportunity for the company to work with a new type of investor and partner to expand wind energy development in this country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Wind energy has been the fastest growing source of new energy generation in the US, and the potential is only beginning to be tapped," Goodwin added.
IKEA has installed around 550,000 solar panels on its buildings in nine countries.
