United Bankers property in Seinäjoki transitions to geothermal-as-a-service

United Bankers property in Seinäjoki transitions to geothermal heating as a service

United Bankers outsources energy solution implementation and operations to Voltan

A 5,200 m² property owned by United Bankers in the Itikka district of Seinäjoki is transitioning to Voltan's geothermal heating as a service model, taking a significant step towards cleaner energy production.

At the United Bankers property in Seinäjoki, the heating system was switched from district heating to geothermal under a service model that combines low emissions with immediate cost impact. The service model allows the property owner to upgrade the energy system without any upfront investment, while making the cost structure more predictable and cost-effective.

The project was not primarily about changing technology, but about renewing the entire energy system in a way that supports both the property's operational efficiency and long-term value development. The key advantage is that cost benefits are visible from the very first heating season.

The investor perspective: cash flow, risk and value development

For a real estate investor, energy solutions have a direct financial impact across three key dimensions:

• operating costs
• cash flow predictability
• the property's risk profile

When an energy system transitions from a CAPEX investment to a service-based model, capital is freed up for other uses while the energy cost structure becomes clearer. This supports cash flow management, makes energy costs more predictable, and improves the forecasting of the property's operational return.

At the same time, low emissions support the property's long-term value development and meet growing sustainability requirements.

In partnership with Voltan Lähienergia

The geothermal project is built on Voltan Lähienergia's Heat-as-a-Service model. The core of the model is that the property owner gains access to a modern, low-emission heating solution without heavy upfront investments or maintenance responsibilities. Voltan manages the system end-to-end: from design and implementation through to continuous monitoring and maintenance.

The project was completed in full in January 2026, and its exceptionally fast turnaround reflects careful planning and a well-chosen partner.

The project timeline was kept exceptionally tight to minimise disruption to tenants. Thanks to experienced project management and our partners, savings are already being generated in the current heating season. "This demonstrates that transitioning to geothermal can be done with quality and simplicity," says Niko Pihlanen from Voltan Lähienergia.

"For us at United Bankers, working with Voltan is an example of how technology and responsible investment can be combined in a way that creates value for both investors and the environment," says Perttu Hokkanen, portfolio manager of the UB Finland Real Estate fund.

The 14 geothermal wells drilled on the property's grounds will supply the building with natural energy for decades to come. These solutions combine long-term thinking, reduced uncertainty around energy costs, and a clear direction towards a more sustainable future.

Emissions reductions equivalent to over 300,000 kilometres driven

The transition to geothermal is estimated to reduce the property's annual CO₂ emissions by approximately 43.7 tonnes. This is equivalent to driving 312,000 kilometres in a Finnish petrol-powered car. Geothermal provides the property with a low-emission energy solution that is particularly significant in the local context.

In Seinäjoki, a significant share of district heating is still produced through combustion — approximately one fifth from peat and most of the rest from biomass — with only around 31% from electricity. The switch to geothermal is therefore not just a technical solution, but a clear step towards lower-emission energy production in the region. From the fund's perspective, the project is a concrete step towards a low-carbon property portfolio.

The energy transition takes shape in concrete decisions

The United Bankers property in Seinäjoki serves as a good example of how the energy transition unfolds in practice: through decisions made at the level of individual properties, where sustainability, financial viability and operational functionality come together.

For a real estate investor, this is not simply about an energy solution — it is about simultaneously optimising cost structure, risk profile and the property's long-term value. This development is already visible in individual projects, where energy solutions are being evaluated more holistically than before.

These kinds of solutions show that the energy transition is no longer a future phenomenon — it is materialising in decisions made in individual properties today. Voltan delivers geothermal heating as a service, with no upfront investment required from the property owner. If you are considering upgrading the energy solution in your own portfolio, get in touch.

Niko Pihlanen
Technical Director
Niko.pihlanen@voltanenergy.com (mailto:Niko.pihlanen@voltanenergy.com)
040 631 8050