Significant investment aid for seasonal heat storage

The Ministry of Economic Affairs and Employment has decided to grant investment aid worth EUR 19,033,000 to Vantaa Energy’s Seasonal Heat Storage project. In its criteria for granting the aid, the Ministry of Economic Affairs and Employment states that balancing of seasonal energy variation is the novelty value of the Seasonal Heat Storage project: surplus heat in the summer season is stored, and the stored heat is utilised in the winter season when the heat demand is high. The Seasonal Heat Storage project is part of Vantaa Energy’s Fossil-Free 2026 project entity, as a result of which Vantaa Energy will phase out fossil fuels in energy production in the Vantaa region by 2026.

The Ministry of Economic Affairs and Employment has granted investment aid worth EUR 19,033,000 to Vantaa Energy’s Seasonal Heat Storage Facility project. Vantaa Energy’s Seasonal Heat Storage project is one of four renewable energy projects that will receive investment aid. In its criteria for granting the aid, the Ministry of Economic Affairs and Employment sees that the Seasonal Heat Storage will balance the seasonal energy variation in a large-scale storage facility where energy is stored during periods of low heating demand, and the stored heat is utilised in the winter season when the heat demand is high. The energy stored in the summertime is renewable energy from, e.g. solar, wind and waste heat sources. The storage of heat energy in the summer season enables phasing out the use of fossil fuels in the winter season as it replaces the use of natural gas. Phasing out the use of fossil fuels reduces carbon dioxide emissions from heat production by up to 65,000 tonnes per year when the use of fossil fuels in heating is replaced with recovered renewable energy. The target completion time of the seasonal heat storage facility is in 2026.

The Seasonal Heat Storage project is part of Vantaa Energy’s Fossil-Free 2026 project entity. As a result of the project entity, Vantaa Energy will phase out fossil fuels in energy production in the Vantaa region by year 2026. After that, Vantaa Energy will continue progressing towards carbon negativity in 2030.

– The seasonal heat storage facility is an important enabler for Vantaa Energy to be a fossil-free energy company in 2026 on its way towards carbon negativity in 2030, says Vantaa Energy’s CEO Jukka Toivonen.

– Seasonal heat storage enables large-scale recovery of waste heat and renewable energy sources such as solar heat and geothermal energy outside the heating season, as well as the utilisation of heat in the coldest winter periods. The technical implementation of seasonal heat storage includes several of the latest innovations, and a similar heat storage facility can also be implemented elsewhere at sites where the availability and use of heat may not coincide in terms of time. Vantaa Energy’s heat storage facility is the first of its kind in the world, and I am delighted about the Ministry of Economic Affairs and Employment’s decision to grant us the investment aid, Toivonen continues.

The seasonal heat storage will promote several of the EU’s climate and energy targets: it will boost resource efficiency based on strong utilisation of waste heat, increase the share of renewable energy forms in energy production, and accelerate the integration of different energy systems. The plan of the seasonal heat storage can be duplicated, and therefore its technical solution could help energy systems to disengage from fossil fuels also elsewhere in Europe. The technical solution of the seasonal heat storage facility and the expertise related to its design may also be a significant export product to other countries.