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Varma’s properties to begin using solar power

14.6.2016

Varma will begin using solar electricity in its properties in order to reduce the carbon footprint of its investments. The first photovoltaic panels will be installed in properties located in Helsinki’s Ruoholahti and Lauttasaari.

“Our goal is to reduce the carbon footprint of our real estate by 15% by 2020. It’s an ambitious target, which requires investments in renewable sources of energy,” says Varma’s Ilkka Tomperi, Investment Director, Real Estate.

The office building located at Itälahdenkatu 22 A in Lauttasaari has already had PV panels installed on its roof. The building at Itämerenkatu 11–13 in Ruoholahti, the tenants of which include the Finnish Innovation Fund Sitra and the mobile game developer Supercell, will have PV panels on its roof by the end of this week.

The property at Itälahdenkatu 22 A has a total of 197 PV panels on its roof with a nominal power of 63.5 kW. The panels’ estimated output is 55–60 MWh per year and 1,500 MWh over their entire lifetime, which equals the annual consumption of three electrically heated detached houses.

The nominal power of the 128 PV panels to be installed at Itämerenkatu 11–13 totals 41 kW. The system’s estimated annual output is 35–38 MWh, which equals the annual consumption of two electrically heated detached houses. The life expectancy of the PV panels is a minimum of 25 years, which means that they will generate an estimated 950 MWh of energy during their lifetime.

Owing to solar electricity, the combined CO2 emissions of these properties will be reduced by around 20.5 tonnes per year and by 512.5 tonnes over a lifetime of 25 years.

Solar electricity is a profitable investment for both investor and tenant

“For Varma, the PV panels are a climate-friendly and profitable investment, although the return horizon is fairly long. For these two pilot properties the investment payback period is 13–15 years, taking into account the government energy subsidy,” says Tomperi.

Sitra’s goal is to achieve carbon neutral operations by the end of the year.

“We at Sitra are very happy that, as a tenant, we have been able to influence our building’s energy production, as it also has an impact on our carbon footprint. At the same time it sends a message to our partners that everyone can help achieve the common climate change objectives. Practical measures for achieving carbon neutrality are already in existence,” says Sitra’s President Mikko Kosonen.

Solar electricity also considered for Salmisaari

Varma is currently looking into the option of utilising solar energy also at its office building in Salmisaari, Helsinki.

In accordance with the climate policy that was published in May Varma’s goal is to reduce the carbon footprint of its listed equity investments by 25%, that of its listed corporate bond investments by 15%, and that of its real estate investments by 15% by the year 2020.

For more information, please contact:
Ilkka Tomperi, Investment Director, Real Estate, tel. +358 50 379 1903, ilkka.tomperi@varma.fi
Leena Rantasalo, Communications Manager, tel. +358 50 300 7980, leena.rantasalo@varma.fi


Climate policy for Varma’s investments 

Corporate responsibility 

Annual report 2015  

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