Meridiam reaches financial close on a new sustainable education infrastructure project in Espoo, Finland

Meridiam has achieved Financial Close for the Jupperi multipurpose center, a new sustainable education infrastructure project in Espoo, one of Finland’s fastest-growing urban areas. The project includes an educational complex integrating primary education, daycare, sports, city library and community facilities.

The new building will help modernise Espoo’s education infrastructure, address capacity constraints in the city’s education system as well as evolving pedagogical requirements. It is part of Espoo’s “Schools in Shape” initiative which aims to enhance the learning environment by providing high-quality, safe, healthy and accessible spaces for pupils and school staff. Once built, the building will be leased to the municipality for 20 years, and provide education capacity for approximately 600 pupils.

“This project is a new example of our long-term commitment to Finland and our belief that essential infrastructure should deliver lasting benefits for the communities it serves. By creating high-quality learning environments that meet ambitious environmental standards, we are helping Espoo address its growing education needs while strengthening its long-term resilience and sustainability”, said Thierry Déau, Founder and CEO of Meridiam.

 

“The Jupperi multipurpose center about to be constructed is special to Espoo in light of its rich history. With this project, we will finally bring the functions of the Jupperi school, daycare center, and city library—which have been operating out of temporary facilities—under one roof,” says Reijo Yrjölä, Director at City of Espoo.

 

Sustainability is at the heart of the project: the building is planned to achieve the highest five-star rating under the Rakennustieto environmental classification (RTYL)[1]. With a gross floor area of 7 200 m², the multipurpose building will be equipped with solar panels, with on-site energy generation expected to cover approximately 15-20 % of each building’s total electricity demand. Purchased electricity will be low-carbon, while the extensive use of wood in structural elements and use of low-carbon concrete will further reduce the building’s carbon footprint. The lifecycle carbon footprint of the buildings will be approximately 40 % lower than comparable reference buildings.

Meridiam was awarded the developer role to work alongside the City of Espoo at an early-stage, jointly defining key project requirements and procuring the contractor. This procurement model provides the public sector with greater flexibility, execution support and access to private-sector expertise in the delivery of complex infrastructure projects.

This sustainable education infrastructure project is another example of Meridiam’s approach to investing in essential infrastructure that strengthens the long-term resilience and sustainability of cities and communities. This new investment, through The Urban Resilient Fund (TURF), builds on Meridiam’s existing experience in social infrastructure with municipalities in Finland: Espoo schools PPP, Finland’s first social PPP[2] closed in 2020, with a concession period of 22 years, i.e. until summer 2042. Also part of the “Schools in Shape” initiative, it will contribute to approximately 15% of the identified needs to guarantee healthy and functional premises for schools and day care centers in the city. It comprises the design, construction, financing and maintenance of five schools and three daycare centres, now fully operational and serving today more than 4,000 pupils.

Following a public procurement procedure, YIT has been selected to act as the contractor for this project.

Sources:

[1] RTYL Environmental Classification is Finland’s leading green building certification system, broadly equivalent to BREEAM, LEED, DGNB or HQE, while being specifically tailored to Finnish environmental requirements and regulations. https://www.rakennustieto.fi/en/palvelut/rakennustiedon-ymparistoluokitus

[2] Meridiam awarded the first social PPP project in Finland | Meridiam

Image: Jupperin monitoimitalo, koulu – Verstas Architects