Vantaan Energia Oy – Varanto-project

Varanto-hanke

We act as legal advisor to Vantaan Energia in the company’s Varanto-project, where Vantaan Energia is building the world’s largest cavern thermal energy storage in the bedrock of Kuusikonmäki, Vantaa.

We assist Vantaan Energia in the company’s Varanto-project. When completed, the facility named Varanto, located in Vantaa, will be the world’s largest underground seasonal thermal energy storage. The 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. The 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 estimated cost of the project is around EUR 200 million. The Ministry of Economic Affairs and Employment has granted an investment grant of EUR 19 million for the project. The state-of-the-art project is an important milestone on Vantaan Energia’s path towards carbon neutrality by the year 2030.

We assisted Vantaan Energia in the procurement of the project’s EPCM services. The EPCM services are an essential delivery for the project and include, among other services, engineering, procurement and site management services. The EPCM services were procured under the Special Procurement Act as a negotiated procedure. Additionally, we have provided extensive assistance to Vantaan Energia in various legal matters relating to the Varanto-project development and the procurement of pre-construction engineering and construction works.

Lieke’s core team comprised partner Juho Lönnblad, senior associate Panu Vasama, senior associate Markus Pulkkinen, senior associate Hanna Tuominen, associate Mikael Lindqvist, associate Kristiina Välimaa and associate Riina Pajala.

Read more about Varanto in the Vantaan Energia press release.

 

Photo: Vantaan Energia

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Team