Ikea Canada buying second Alberta wind farm near Drumheller
TransAlta and Teck Resources get total of $119.6 million for 88-megawatt Wintering Hills wind farm
Ikea Canada has signed a deal to buy an Alberta wind farm from TransAlta and Teck Resources for a total of $119.6 million.
"We are committed to having a positive impact on people and the planet," said Brendan Seale, the sustainability manager for IKEA Canada.
"This investment in renewable energy supports our business and moves us closer to our global ambition to produce more renewable energy than we consume by 2020."
TransAlta said Thursday it will receive about $61 million for its 51 per cent interest in the 88-megawatt Wintering Hills wind farm near Drumheller, Alta.
Teck said separately that it will receive $58.6 million for its 49 per cent stake.
Ikea said the 55 turbines at Wintering Hills generate enough electricity to power 54 Ikea stores or nearly 26,000 Canadian households.
It is the second Canadian wind farm for the furniture retailer which has 12 stores across the country. It already has a 46-megawatt wind farm in Pincher Creek, Alta., that it acquired in 2013.
The global furniture and furnishings company already produces more energy in Canada than it uses for its Canadian stores and has set a goal of generating more renewable energy than it uses worldwide by 2020.
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