Geonova Oy, a provider of decentralized heating and cooling solutions owned by funds managed by CBRE Investment Management and LämpöYkkönen Oy (L1), has acquired a portfolio of operational heating assets from One1 Oy.
The assets include ground-source heat pumps, biofuel boiler and rooftop solar installations, contracted under an energy-as-a-service (EaaS) model with long-term agreements ranging from 10 to 20 years.
Tapo Lehtoranta, Geonova’s CEO, believes purchasing energy generated by heat pumps as a service will become increasingly common in Finland as more companies and organizations recognize the benefits of the service model.
Geonova said this strategic acquisition aligns with its growth strategy and marks a significant step forward in its rollout of EaaS projects in the Finnish market. It also follows on the heels of CBRE Investment Management’s
