Ikea to Buy Largest Subsidy-Free Wind Project in Nordic Region

Home-furnishings giant Ikea will buy four wind farms in Finland from developer OX2 Group AB in the region’s largest subsidy-free project.

OX2 will start building 25 turbines with a combined capacity of 107 megawatts, it said in a statement on Oct. 23. Ikea Retail Finland is financing construction and will buy the farms once they are completed and start to generate power in 2020.

The deal is a part of the retailer’s goal of becoming energy independent by 2020 and OX2 has previously sold three wind farms in Sweden and one in Finland to Ingka Group, which runs the Ikea ...