Iraqi Super Giant Flexes Oil Muscles



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The Wall Street Journal

In most parts of the world, it has been energy firms taking the lead role in developing wind power. Wind farms produce 2.5% of the global electricity supply, a rate that is rising by about 10% to 15% a year, according to the Global Wind Energy Council.

In Scandinavia, real-estate owners account for an increasing chunk of investment, while the U.S, as well as Japan and developing markets are also seeing more projects linking power generation to hyper-local use.

Swedish furniture giant Ikea, which owns millions of square feet of property, also makes energy and sells it.

Its sustainability officer told the Journal that the company’s annual generation of its own electricity is “worth €100 million of revenue” based on his “back-of-the-envelope calculation.”