trending Market Intelligence /marketintelligence/en/news-insights/trending/QrudfYpEfPi3je3rbz4oUg2 content esgSubNav
In This List

Apex Clean Energy signs O&M deal with IKEA for Alberta wind farm

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Insight Weekly: Cryptocurrency's growth; green bond market outlook; coal investors' windfall

Blog

Insight Weekly: Challenges for European banks; Japan's IPO slowdown; carmakers' supply woes

Blog

Q4’21 US Power Forecast: Will high commodity prices accelerate the energy transition?


Apex Clean Energy signs O&M deal with IKEA for Alberta wind farm

Apex Clean Energy has inked a multiyear deal with IKEA Canada LP to manage and remotely operate the 88-MW Wintering Hills wind facility in Alberta, Canada, according to a Jan. 30 news release. According to SNL Energy data, the wind project comprises 55 turbines and was placed online in 2011.

IKEA earlier in January announced plans to acquire the wind farm from Teck Resources Ltd. and TransAlta Corp. under two separate transaction totaling about C$119.6 million. Slated to close in the first quarter of 2017, the acquisition marks IKEA's second wind investment in Canada, following its purchase of the 46-MW Oldman 2 wind farm in Pincher Creek, Alberta, in 2013.

The companies entered partnership twice in 2014, as IKEA acquired from Apex the 165-MW Cameron wind project in Texas and the 98-MW Hoopeston wind facility in Illinois. Apex is still in charge of the operations and maintenance of the two power plants, which both reached commercial operation status in 2015.

The latest agreement with IKEA brings the Apex generation fleet under management to 1,729 MW.