Finland. Aalto University Foundation
| Date of agreement: | 27 Mar 2024 |
|---|---|
| Country: | Finland |
| Customer: | Aalto University Foundation |
| Amount in EUR: | EUR 45 million |
| Maturity: | 15 years |
| NACE sector / loan type: | Higher education |
Project
The loan has been provided to finance the construction and renovation of Aalto University campus buildings in Espoo, Finland.
The financing will support the Aalto University Foundation investments during 2023–2024. The projects include:
- K3 (Puumiehenkuja 5)
The project comprises the renovation of an existing building, the dismantling of one wing and the construction of a new building. The Aalto University Works facilities will mainly be used for teaching, but there will also be facilities for different collaboration partners. The project has been completed in 2023.
- Marsio (Otakaari 2A)
Construction of state-of-the-art multifunctional facilities that will be equipped with new digital technologies enabling cross-disciplinary research and teaching. It is planned that the project will be completed by early autumn of 2024.
- Kide (Konemiehentie 1)
Construction of a new building for research and teaching, as well as office space. The project has been completed in 2023.
- A multi-storey carpark Otaparkki (Sähkömiehentie 3)
The new parking house provides parking spaces for about 260 cars, and hosts charging stations for electric vehicles. The parking house has been completed in December 2023 and opened in January 2024.
This is already NIB’s third loan to the Aalto University Foundation. In 2013, the Bank financed the construction of the Open Innovation House and the renovation of the Undergraduate Centre. In 2016, NIB provided a loan for the construction of the university’s School of Arts, Design and Architecture main building Väre, as well as the new main building for the Aalto University School of Business.
Aalto korkeakoulusäätiö sr (Aalto University Foundation) forms a group, which owns and operates Aalto University. Aalto University cooperates with other universities, as well as research institutes and corporations.
Fulfilment of NIB's mandate
The investments are a significant addition to Aalto University’s assets. They will support higher education and research, while serving as platforms for cross-disciplinary work and collaboration between businesses and academia.
The Aalto University Works project, including the K3 building, is part of a larger campus development plan which centralises the university’s activities in the main campus area.
The new Kide building connects to the Nanotalo building and the Aalto Nanomicroscopy Center. The connection allows more collaboration in the field of nanotechnology.
The new Marsio building will entail modern technologies that will support cross-disciplinary research and teaching. The building will also function as a platform for events and showcase for Aalto University’s unique research and teaching capabilities.
The construction of the multi-storey carpark is part of the zoning requirements of the Marsio and Kide buildings. The building will serve the entire Aalto University community and visitors. It will replace previous parking lots and reduce the number of parking lots in the campus area.
The calculated energy performance reference value (E-value) for the Kide and planned value for Marsio buildings are 86 kWh per square metre annually and 84 kWh per square metre annually respectively, resulting in energy class A. For the Aalto University Works total building, including the old structure and new construction, the E-values represent 130 kWh per square metre annually, resulting in energy class B.
Impact indicators in relation to the investments:
- Capex, EUR million
- JUFO impact factor, score in 2027
- Master’s degrees, no. in 2027
- Doctoral theses, no. in 2027
- E-value at Kide building
- E-value at Marsio building
Sustainability summary
NIB has not identified any sustainability concerns related to the investments.
