YIT Corporation Investor News November 3, 2025, at 9:00 a.m.
YIT has been selected to carry out the excavation contract for Vantaa Energy's heat storage facility, Varanto, in Vantaa. The project is valued at approximately EUR 100 million for YIT. The project will be recorded in YIT's order book for the fourth quarter of 2025. Excavation work will begin in December 2025, and the contract is expected to last around three years.
Once completed, Varanto will be the world's largest seasonal heat storage facility, located deep beneath Ring Road III in Kuusikonmäki, Vantaa. The storage capacity will be 90 gigawatt-hours of district heating, equivalent to the annual heating needs of a medium-sized Finnish city.
"Varanto is an exceptional project that combines scale, technical complexity, and societal significance. YIT has strong expertise in rock construction, and we are proud to be part of delivering this unique project," says Aleksi Laine, EVP of YIT Infra.
"Varanto is a key part of Vantaa's district heating system and the city's climate goals. It enables us to store recycled energy for winter heating needs and make efficient use of affordable electricity. YIT's role as the excavation contractor is significant, as the project requires solid rock construction expertise," says Jukka Toivonen, CEO of Vantaa Energy.
Varanto is scheduled for completion by 2030.
Energy and industrial construction projects like the heat storage facility are a central part of YIT's strategy, which focuses on profitable growth and building a sustainable society. In line with the strategy, YIT is strengthening its position as an enabler of industrial development and the energy transition, delivering demanding projects such as energy plants and data centers. These projects combine YIT's technical expertise, project management capabilities, and responsible solutions that support customers' businesses and the green transition of society.
For further information:
YIT Corporate communications, tel. +358 44 743 7536, press@yit.fi
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
We build and develop sustainable living environments: functional and attractive homes, future-proof public and commercial buildings, infrastructure to support the green transition as well as industrial, production, and energy facilities to support our customers' processes. YIT's vision is to be the expert partner in developing sustainable homes, spaces, and cities - for a good life. There are approximately 4,100 professionals in our team and our revenue in 2024 was EUR 1.8 billion. YIT Corporation's shares are listed on Nasdaq Helsinki.
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