Vantaa Energy

Vantaa Energy

Vantaa Energy is one of Finland’s largest city energy companies. We produce heat and electricity and sell heat services. We enable smooth everyday lives for our customers by producing constantly developing services in a climate-friendly way.

The energy sector plays a key role in the mitigation of climate change. We want to be part of the solution. We are a growing circular economy energy company that invests in finding carbon-negative energy solutions. Our goal is to be carbon-negative in 2030. On the way to carbon negativity we will do concrete things: we are phasing out the use of coal by 2026. Our energy production will be fossil-free by 2026. We are in the vanguard of the energy sector and want to contribute to a speedy transition to clean energy production.

Vantaa Energy progressing towards carbon negativity in 2030

Vantaa Energy’s goal-oriented work to reduce carbon dioxide emissions continues with the launch of the company’s project entity, Carbonnegative 2030. As a result of the plan consisting of four main projects, Vantaa Energy with its operations will sequester more carbon dioxide than it releases into the atmosphere, taking it towards carbon negativity in 2030.

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Waste-To-Energy Plant: a new life for rubbish

Thanks to the Waste-To-Energy Plant commissioned in 2014, the amount of waste produced by the residents of the Helsinki region which ends up in the landfill is reduced by 374,000 tonnes. The plant reduced Vantaan Energia’s use of fossil fuels by 40 per cent and carbon dioxide emissions in Vantaa by 30 per cent. 

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Vantaan Energia to phase out fossil fuels already by 2026

Vantaan Energia is taking another leap in its climate targets by phasing out fossil fuels by 2026. The rapid schedule is enabled by the utilisation of excess energy produced in waste processing, seasonal storage of heat, and the use of geothermal ground-source heat and solar energy. 
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Responsibility is not just another word to us. Responsibility means that we do things properly, whether it’s to do with our customers or society at large. With our good financial standing, we ensure that our operations are sustainable for the benefit of our owners, i.e. the citizens. On the other hand, we are responsible for offering our customers a better service than they can even think to request. We are also aware of our responsibility for the environment: we contribute to mitigating climate change.

Electricity networks

We need a reliable infrastructure to maintain a smooth supply of electricity and to keep Vantaa moving. Vantaa Energy Electricity Networks Ltd takes care of the construction, operation and maintenance of Vantaa’s electricity network. The company is fully owned by Vantaa Energy Ltd.

Financial key figures

Group 2021 2020 2019
Turnover, EUR mill. 275,9 217,5 295,1
Operating profit, EUR mill. 44,1 64,1 58,9
 % of turnover 16,0 29,5 18,4

Return on equity (ROE),%

9,3 18,5 16,6
Equity ratio, % 40,7 42,6 41,0
Gross investments, EUR mill 96,0 133,2 42,3
% of turnover 34,8 61,2 14,3
Parent company 2021 2020 2019
Turnover, EUR mill. 225,8 171,0 249,0
Operating profit, EUR mill. 37,1 48,0 32,3
 % of turnover 16,4 28,1 13,0
Return on equity (ROE),% 9,8 19,6 11,8
Equity ratio, % 39,6 40,0 38,0
Gross investments, EUR mill 84,4 121,9 30,9
% of turnover 37,4 71,3 12,4

Financial Statements (in Finnish)