Balder Finland’s Päiväläisentie 1-6 property in Helsinki is CO2-free for heating

Balder Finland, which took its first steps as a Finnish organisation in 2023, has grown very rapidly in a short period of time. Although it has owned real estate in Finland through its Swedish parent company Fastighets AB Balder since 2014, the biggest leaps in its real estate portfolio have taken place in the last couple of years, with the real estate portfolio already growing to more than EUR 780 million.

Balder Finland’s Real Estate Director Tobias Höglund is pleased with the agreement for a number of reasons and is looking forward to the completion of the power plant for the coming heating season. “It was nice that the tenants responded positively to the change in the heating system in the property. One big factor in the good reception was the one-off switch to CO2-free heating. Balder aims to reduce scope 1 and 2 emissions by 90% by 2030 and this contract is a concrete step towards that. It will also be interesting to see how solar thermal energy is used as part of the power plant solution, as one of our goals for 2030 is to increase the number of solar panels significantly. Our growth will continue to be strong in Finland and we want to be a reliable and responsible player. Concrete actions and investments in sustainability inspire confidence in our customer base”, Tobias comments.

Janne Ritakoski, CEO of TSF, is very proud of his organisation for the recent power plant contract, but also shares his unreserved thanks to the customer. “I was very impressed by Balder’s pragmatic and straightforward approach to the heating system change in the Päiväläisentie complex. Concrete milestones for the project were established during the negotiation phase and once these were resolved through good cooperation, it was easy to move forward piece by piece towards the signing of the contract. Balder is a major real estate investor in the Nordic region and we are extremely honoured to be part of their commitment to sustainability. By the way, the start of 2026 has got off to a really good start commercially and the organisation continues to grow together with our clients. I am confident that we will be as successful in the delivery process as we were in negotiating the project. It is very good to continue from here”, Janne comments.