Keva improved the energy efficiency of its real estate – savings exceeded half a million euro per year

Finance and investment Keva Responsibility
Finance and investment Keva Responsibility

Keva accrued savings of over EUR 550,000 per year by decreasing the energy and water consumption in its real estate with careful remote monitoring and new equipment.  

Monitoring and development of energy efficiency created savings for Keva in a short period of time. In autumn 2016, a total of 110 property companies were included in Caverion’s energy management service, comprising a total floor area of more than 1.2 million square meters.

As a result, electricity consumption decreased by 5.9%, standardised heat consumption by 2.5% and water consumption by 5.8% in a period of one year. This corresponds to over EUR 550,000 per year.

The savings improved the environmental responsibility and tenants' living experience in Keva's direct real estate investments.

“We seek to reduce energy consumption by 7% and water consumption by 10% in residential buildings by 2020. The results of the first year of Caverion's energy management service are encouraging,” says Petri Suutarinen, CIO Real Estate at Keva.

“The identified energy saving potential is nearly 17.5GWh, which exceeds our targets by 60%. In the first year, we have already saved about 6.5GWh,” Suutarinen continues.

Energy efficiency has been improved with continuous energy monitoring, an energy survey of each property and efficient remote monitoring of the heating, water distribution and ventilation systems.

Savings are also created through new equipment and changes in guidelines. Consumption monitoring is a good method to detect deviations in energy consumption, while remote monitoring helps ensure the optimum adjustment values and settings.

Energy efficiency and maintenance will also be further supported by installing a data-secure remote access in as many buildings as possible.

Energy efficiency is an ongoing development project in Keva’s real estate. Early this year, a water saving project was completed in Keva’s rental homes. During the project, all the water supply points in the buildings were inspected and their water flow rate adjusted.

Three solar power plants will be completed this year with a total output of about 1,000kWp.

“Keva’s goals in environmental responsibility are challenging but realistic. With our digital solutions, we have been able to intensify their property maintenance and boost energy efficiency, which will help Keva reach its goals. As a result, significant savings have been created while not compromising the comfortable living conditions in the buildings,” says Heikki Rostila, Vice President at Caverion.


Further information:


Petri Suutarinen, CIO, Real Estate, tel. +358 (0)400 330 322
Jari Toikka, Head of Construction, tel. +358 (0)40 669 1012


Heikki Rostila, Vice President, tel. +358 (0)50 390 0398  


Keva is the largest earnings-related pension fund in Finland, responsible for managing public sector pension schemes for Finland’s local authorities, central government, the Evangelical Lutheran Church and the Social Insurance Institution of Finland (Kela).  Keva serves some 1.2 million clients. Keva is working to secure future local government pension provision through a number of activities, including investment management. At the end of 2017, the market value of its investment portfolio was valued at EUR 51.9 billion. The organisation’s official title is Keva. The use of its previous title, Kuntien eläkevakuutus or Local Authority Pension Fund, was discontinued in 2011.

Caverion provides smart technical solutions and services for buildings, industrial processes and infrastructure.  Our unique service offering covers the entire life cycle: design, build and maintenance. Our vision is to be the first choice in digitalising environments for customers, employees, partners and investors.  Our revenue in 2017 was approximately EUR 2.3 billion.  Caverion has about 16,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on Nasdaq Helsinki. Twitter: @CaverionGroup