Vantaan Energia Oy – Varanto excavation works

Varanto-hanke

We acted as legal advisor to Vantaan Energia in the procurement of the excavation works of the company’s Varanto project. In the project, Vantaan Energia is building the world’s largest cavern thermal energy storage in the bedrock of Kuusikonmäki, Vantaa.

We assisted Vantaan Energia in the procurement of the excavation works, which was carried out in accordance with the Procurement Act for Special Sectors.

In the project, three tanks, each approximately 20 meters wide, 300 meters long, and 40 meters high, will be excavated in the bedrock and filled with water. At its deepest point, Varanto will extend 140 meters below ground level.

The excavation works are significant in scale, up to 1 million cubic meters. The excavation works, expected to last nearly three years, are scheduled to begin later this year.

Varanto enables energy to be cycled from summer to winter temperatures, waste heat to be recovered and wind power to be stored as thermal energy, thus reducing emissions. Varanto is capable of storing 90 GWh of thermal energy, equivalent to the entire year’s heating demand of a medium-sized Finnish city or the batteries of 1.3 million electric cars. The investment cost estimate for the project is approximately 300 million euros.

Lieke’s team comprised Partners Juho Lönnblad and Panu Vasama, Senior Associate Heidi Krootila and Associates Otto Koskinen and Riina Pajala (energy and infrastructure; projects and construction), Senior Associate Hanna Tuominen (real estate, environment and land use), Partner Janne Veneranta and Senior Associate Risto Mynttinen (financing, securities), and Senior Associates Markus Pulkkinen and Henrik Koivuniemi and Associate Toni Tainio (public procurement).

Read more in the Vantaan Energia’s press release.

 

Image credit: Vantaan Energia

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Team