Helsinki’s Biomedicum 1 to Slash Energy Use by 60% Thanks to NIB-Financed Renovation

Helsinki’s Biomedicum 1 to Slash Energy Use by 60% Thanks to NIB-Financed Renovation

(IN BRIEF) The Nordic Investment Bank (NIB) has granted an €8 million loan to Kiinteistö Oy Biomedicum Helsinki to finance the renovation of Biomedicum 1, a key research and education building in the Meilahti medical campus. Scheduled for completion by spring 2026, the project is expected to reduce energy consumption by 60% through upgrades such as heat recovery systems and air- and water-based heat pumps. Heating, cooling, and automation systems will also be modernised. The phased renovation will keep the facility in use throughout the works. The initiative reflects NIB’s commitment to financing sustainable infrastructure in its member countries.

(PRESS RELEASE) HELSINKI, 23-Apr-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, has signed an €8 million loan agreement with Kiinteistö Oy Biomedicum Helsinki to fund the extensive renovation of Biomedicum 1, a major research and education facility in Finland’s capital. The loan, which spans a maturity of 10.5 years, will support a phased refurbishment designed to align the building with modern energy and operational standards.

Located within the Meilahti medical campus, the Biomedicum 1 building, originally completed in 2001, is undergoing a large-scale upgrade scheduled for completion by spring 2026. The transformation is expected to cut the building’s energy consumption by approximately 60%, driven by the integration of an advanced energy recycling system.

A significant element of the overhaul includes the deployment of air- and water-based heat pumps, as well as modern heat recovery systems. These technologies will allow the facility to operate with minimal reliance on external district heating. Comprehensive updates to all heating, cooling, and building automation systems are also part of the project. To minimize disruption, the renovation is being conducted in phases, enabling the facility to remain in continuous operation.

Kiinteistö Oy Biomedicum Helsinki, a mutual real estate company owned by key stakeholders including the University of Helsinki Funds, the Joint Authority for the Hospital District of Helsinki, and the City of Helsinki, is responsible for the campus’s property development and upkeep.

The initiative aligns with NIB’s mission to finance projects that improve productivity and environmental sustainability in the Nordic-Baltic region. As a multilateral financial institution jointly owned by eight member states, NIB maintains a top-tier credit rating (AAA/Aaa) and supports investments that create long-term value across public and private sectors.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies S&P Global Ratings and Moody’s.

For further information, please contact
Sari Cabell, Senior Banker, at +358 10 618 0519, Sari.Cabell@nib.int

Lotta Forssell, Senior Communications Officer, at +358 10 618 0498, lotta.forssell@nib.int

SOURCE: Nordic Investment Bank