23 Jan '13, 4pm

Ikea to Double Renewable Energy Investment to $4 Billion by 2015

The additional spending on projects such as wind farms and solar parks will be needed to keep expenses down as the company maintains its pace of expansion, Chief Executive Officer and President Mikael Ohlsson said in an interview in Malmo, Sweden. “I foresee we’ll continue to increase our investments in renewable energy ,” said Ohlsson, who is due to step down this year after 3 1/2 years at the helm. “Looking at how quickly we’re expanding and our value chain, we will most likely have to double the investments once more after 2015.” Companies from sportswear maker Puma SE to drinks producer PepsiCo Inc. are expanding efforts to cut their use of scarce resources as they jostle for customers. Prices for wind turbines sank 23 percent in the three years to June, while solar panels have tumbled by more than half in two years, making projects cost-effective, according to Bloombe...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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