Success stories | Stockmann Logistics Center

INVESTMENT CASE

Up to 10% return on investment

The Stockmann logistics center solar power plant has a capacity of 2 MW and produces 1.6 GWh of electricity annually. The logistics center covers 29,000 m², providing ample roof area for installation. The solar plant was completed during summer 2024 and is expected to cover approximately 35% of the building’s electricity consumption.

This is the main reason companies invest in solar power plants: in the future, 35% of the building’s electricity will be produced on its own roof instead of being purchased from the grid, reducing exposure to grid fees and certain taxes. This generates an annual return on investment of over 10%, which is often significantly higher than average return expectations in the real estate sector.

“Setting a science-based climate target guides our operations to reduce emissions even more ambitiously. We have already begun implementing our climate plan at Lindex and in Stockmann’s department store business. This new solar power plant aligns with our targets. It is great that the property owner Ilmarinen has launched this important project to support our goals.”

Timo JärvinenReal Estate Technology Manager, responsible for energy management at Stockmann

CLIMATE IMPACT

120 tons smaller carbon footprint

The new solar power plant reduces Stockmann’s carbon footprint by approximately 120 tons. Stockmann is committed, in line with the Science Based Targets initiative (SBTi), to reducing its operational and value chain emissions by 42% by 2030 compared to 2022, and solar power is an excellent way to reduce CO₂ emissions. According to the IPCC 2023 report, solar energy has the greatest potential of all energy forms to reduce CO₂ emissions.

The logistics center is owned by the pension insurance company Ilmarinen, which leases it to Stockmann. Ilmarinen has solar power plants at a total of 12 properties.

“Our goal is a carbon-neutral investment portfolio by the end of 2035, and naturally we are also taking action in our real estate investments to ensure this target is met. These solar power plants are one means on our journey toward carbon-neutral real estate investments, and they reduce the carbon footprint of our properties,” says Niina Nurminen, Construction Manager at Ilmarinen.

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Stockmann Logistics Center

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Stockmann Logistics Center

Up to 10% return on investment

120 tons smaller carbon footprint

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