5,000 solar panels to be installed on the rooftops of Varma’s properties

Varma will build solar power systems at several of its properties around Finland. Beginning this autumn, a total of 5,000 solar panels will be installed on the rooftops of seven properties, including shopping centres in Tornio, Hyvinkää and Kotka, and at Varma’s head office in Helsinki. For investors, solar energy is a worthwhile and environmentally friendly investment.

Varma is building solar power systems at seven of its properties. Beginning this autumn, solar panels will be installed on the roofs of the following buildings:

  • Willa Shopping Centre in Hyvinkää
  • The Panorama Tower office building in Espoo 
  • Rajalla Shopping Centre in Tornio
  • Jumalniemi Shopping Centre in Kotka
  • Palokka Shopping Centre in Jyväskylä
  • Sports Centre Salmisaari in Helsinki
  • Varma’s head office in Helsinki

A total of 5,000 solar panels will be installed on the rooftops of the properties, representing a total nominal power of 1,450 kWp. Willa Shopping Centre in Hyvinkää and Jumalniemi Shopping Centre in Kotka will receive the most solar panels, with roughly 1,000 each.

The solar power installations will employ smart electricity systems, which have a better energy output than traditional systems.

“With smart solar power systems, production can be optimised. Each solar panel represents an independent production unit, which means if some panels are in the shade, the other panels will continue to work at full capacity,” explains Varma’s Commercial Property Director, Toni Pekonen.

The properties now being equipped with solar power were chosen according to type of property, free roof surface and optimal electricity consumption such that electricity generated by solar energy can be fully used in the properties.

“In selected sites, solar power is both an economically sound and environmentally friendly investment,” says Pekonen.

Solar power helps reduce the carbon footprint of properties

Buildings account for more than 40 per cent of Finland’s greenhouse gas emissions. As a responsible investor, Varma is committed to mitigating climate change and intends to reduce the carbon footprint of its real estate by 15 per cent by 2020.

“The target of reducing the carbon footprint of real estate is an ambitious one and also requires investments in renewable energy sources. The life-cycle costs of solar power systems have shrunk and their efficiency has improved, which makes solar power a worthwhile option for reducing the carbon footprint,” Pekonen explains.

The estimated annual output of the solar power systems now being built is 1,178 MWh/a, which is equal to the annual consumption of 60 detached houses heated with electricity. The estimated reduction in emissions in the properties is 247 tCO2 per year, thanks to solar power.

Varma began introducing solar power in its real estate in 2016, when two office buildings in Helsinki were equipped with solar power systems.

“The objective is to further increase the use of solar power in our real estate, and we will continue to chart suitable sites,” says Pekonen.

Energy aid was received from the government for all of the solar power installations. Aii Energy Systems, Caverion Suomi Oy, Helen Oy and Solnet Green Energy Oy are responsible for building the solar power systems.

Varma Mutual Pension Insurance Company is the most solvent earnings-related pension company and largest private investor in Finland. The company is responsible for the statutory earnings-related pension cover of some 873,000 people in the private sector. Premiums written totalled EUR 4.7 billion in 2016 and pension payments stood at EUR 5.3 billion. Varma’s investment portfolio amounted to EUR 44.4 billion at the end of March 2017.

Further information:
Toni Pekonen, Commercial Property Director, tel. +358 40 523 6610, firstname.lastname@varma.fi
Leena Rantasalo, Communications Manager, tel. +358 50 300 7980, firstname.lastname@varma.fi

Annual report

Financial information and investments

You might also be interested in these