IKEA invests in Polish wind energy

Ikea also said it was committed to purchasing a third wind farm, which is curently under construction in Rymanów. IKEA’s purchases will afford it more independence from power companies.

They comprise the 10 MW Leki Dukielskie and 18 MW Bukowsko wind power facilities, and the Rymanow wind farm, which is under construction and due for grid-connection in 2013.

Martifer SGPS, SA informs that its subsidiary Martifer Renewables has sold its wind turbines projects in Poland: Leki Dukielskie (10MW) and Bukowsko (18MW), both already under operation, and has settled the sale of Rymanow (26MW), which is ready-to-build, for the total amount of 385M PLN (approximately 87.3M € at the current exchange rate) to the IKEA Group.

The sale of Rymanow project (26MW) will be concluded after the wind farm is constructed and connected to the grid. This is expected to take place during 2013.

The cash flow proceeds will happen as follow:

-Payment of 282.5M PLN (about 64M €) following the signature of the contract and the remaining amount, during 2013.

The sale of these assets is in accordance with the asset rotation policy implemented by the management of Martifer Renewables, the RE developer area of Group Martifer.

The firm already owns wind farms in Germany, Sweden, France and the UK.