At first glance, the new development project located on Peijinkatu in Finnoo, Espoo, appears similar to other developing areas near the Finnish capital. However, there is something special about these houses. In the future they are likely to be more valuable than their neighbours.
"QHeat's heating solution, which produces fossil-free, inexhaustible, and fully domestic heating energy, fits our strategy well. "
This is the belief of Tuomas Rantsi, Director of Real Estate Development at Avara Oy, a real estate investment and asset management company. Avara is one of the two owners of the project on which QHeat's geothermal district heating plant was implemented. "We have always been ready to introduce new ways to reduce the energy consumption and emissions of our sites. QHeat's heating solution, which produces fossil-free, inexhaustible, and fully domestic heating energy, fits our strategy well." Says Rantsi.
Three medium-depth geothermal heat wells, producing a combined energy output of 1940 megawatt-hours per year, form the core of the district heating plant. This energy is used to heat a total of 14,000 square meters of floor space and approximately 250 apartments in six apartment buildings owned by Avara and TA-Asunto.
QHeat's geothermal wells drilled in Finnoo extend to a depth of up to one and a half kilometers. At this depth, the temperature of the Earth's crust is already about 30 degrees Celsius. Due to the high temperature and patented heat well technology, the energy output of QHeat's geothermal wells corresponds to dozens of traditional geothermal wells.
Efficiently functioning wells make it possible to utilize geothermal heat in a tightly zoned area. On the ground, the lid of the heat well is the size of a family pizza. In addition, there is a 40-square-meter heat pump building on the Peijinkatu plot, through which the water heated in the bedrock from the wells is directed to residential buildings.
Geothermal energy itself is climate-neutral and does not produce greenhouse gas emissions. As renewable electricity is used as an energy source for heat distribution at Finnoo's sites, the heating solution is emission-free.
Zero emissions appeal to authorities and investors
"In the investor field, geothermal energy has been received very well. They can, in turn, report the subject as completely emissions-free in their own portfolios."
Rantsi says that climate neutrality significantly accelerated the zoning process with the City of Espoo in different phases of the project.
"New solutions for reducing climate emissions are being sought extensively in the Finnoo area, and QHeat's geothermal heat wells are also well-suited for this environment from the city's point of view."
Heating energy from one's plot, deep inside the ground, not only cuts emissions but also saves on energy bills throughout the well's life cycle. The service life of QHeat thermal wells is about a hundred years.
"Our goal is for the wells to halve the heating costs of our site, and this is a modest goal. The self-sufficient heating solution also provides visibility into future heating costs and protects against changes in the pricing of district heating."
Rantsi sees geothermal energy as an investment that will increase the value of the Finnoo project. According to him, investing in zero-emission, long-term energy solutions has been a favorable message for investors.
"In the investor field, geothermal energy has been received very well. They can, in turn, report the subject as completely emissions-free in their own portfolios."
Fact: Peijinkatu 6 in Espoo is heated using QHeat's geothermal heat wells
- Finnoon Syvälämpö Oy, formed by the real estate investment and asset management company Avara Oy and TA-Asunnot Oy, which focuses on the construction and management of rental and right-of-occupancy apartments, utilises the geothermal district heating plant implemented by QHeat in Finnoo, Espoo, at Peijinkatu 6.
- The geothermal district heating plant is powered by three thermal wells that extend up to one and a half kilometres.
- The medium-depth heat wells built by QHeat operate significantly more efficiently compared to traditional heat wells, which makes it possible to utilize geothermal energy in a densely zoned area.
- Geothermal energy is emission-free, inexhaustible and completely domestic.
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