Citycon will convert to geothermal heating and cooling in Jakobsbergs Centrum reducing the overall energy consumption of the shopping centre by up to 65%. Jakobsbergs Centrum will serve as a pilot project for geothermal solutions in Citycon’s shopping centres in line with Citycon’s objective to invest in energy efficiency and increased use of renewable energy sources.

Jakobsberg’s Centrum will be the largest shopping centre in Sweden to convert from district heating to a comprehensive geothermal plant. Approximately 97% of the centre’s heating and cooling will be covered with renewable geothermal energy and it will be completely free from carbon dioxide emissions. The project is part of Citycon’s environmental strategy with ambitious five-year targets to reduce the use of electricity, heating, cooling and water consumption as well as carbon emissions in its shopping centres.

– Shopping centres are major users of heating and cooling and geothermal energy is therefore an attractive renewable alternative, which means that we will reduce the environmental impact considerably. With geothermal energy we become more self-sufficient in energy while lowering our operating costs, says Mattias Bernunger, Head of Development at Citycon.

Sponsors

Sponsors

Sponsors

Citycon is doing the project in partnership with Adven, who will be investing in the geothermal plant and Citycon will subscribe to the carbon dioxide free heating and cooling.

– Geothermal energy is an environmentally friendly and cost effective option for property owners. It also contributes to fulfil environmental certification specifications, a rapidly growing trend, says Jonas Häggqvist, CEO of Adven in Sweden.

The new energy systems in Jakobsbergs Centrum will be up and running in the fall of 2016. If the pilot project in Jakobsbergs Centrum is successful, Citycon plans to install geothermal solutions into other shopping centres as well.
Helsinki, 22 December 2015

CITYCON OYJ
For further information, please contact:
Mattias Bernunger, Head of Property Development
Tel. +46 8 522 803 25 or +46 706 64 45 59
mattias.bernunger@citycon.com

Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com