Tags: ikea | wind | farm

Ikea Wind Farm: Company Makes Investment Into Renewable Energy

Image: Ikea Wind Farm: Company Makes Investment Into Renewable Energy

Friday, 11 Apr 2014 07:03 PM

By Morgan Chilson

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Ikea has purchased its first wind farm in the United States, the largest of the company’s renewable energy investments to date and a strong effort toward reaching its goal of creating as much renewable energy as it consumes by 2020.

Ikea US purchased a 98-megawatt wind farm, Hoopeston Wind, in Hoopeston, Ill., the company announced in a news release Thursday.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

The project is being built by Apex Clean Energy of Charlottesville, Va., and is expected to be operational in 2015.

Rob Olson, Ikea US chief financial officer, announced the wind farm purchase at a task force meeting focused on climate change.

“We are committed to renewable energy and to running our business in a way that minimizes our carbon emissions, not only because of the environmental impact, but also because it makes good financial sense,” said Olson in the release. “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.”

The Ikea release said Hoopeston Wind is projected to create 380 gigawatt hours of renewable energy every year, the amount of electricity needed to run 34,000 average American homes. That is 18 percent of the electricity used by the company worldwide, and 165 percent of the electricity used by Ikea US.

Ikea, a Swedish company, is expanding in the United States and will open three stores in the next two years. The company currently operates 38 stores, five distribution centers, two service centers, and one factory.

The Ikea investment was well received by many who believe more should be done to focus on clean energy sources.

Urgent: Assess Your Heart Attack Risk in Minutes. Click Here.

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
[Error loading the WebPart '']
Value cannot be null. Parameter name: virtualPath
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Spain's El Gordo Lottery Splits $3B Between Thousands of Winners

Monday, 22 Dec 2014 18:40 PM

Spain's El Gordo lottery, the world's biggest lottery, made thousands of people nearly $500,000 richer after the $3 bill . . .

'The Interview' Distributed Eventually, But Lawyer Not Sure How

Monday, 22 Dec 2014 17:59 PM

"The Interview" will be distributed and Sony Pictures "had no choice" but to delay the movie's release, an attorney for  . . .

Missing Philadelphia Student's Keys Found in Schuylkill River

Monday, 22 Dec 2014 17:42 PM

The car keys belonging to a missing Philadelphia student were found in the Schuylkill River on Sunday, a family member t . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved