EfTEN Kinnisvarafond II news
The Radisson Collection Hotel, owned by EfTEN Capital, required an investment of 250 euros per square meter for an A-class energy rating
Following renovation works, the Radisson Collection Hotel in Tallinn received an A-class energy rating. The nearly twenty-five-year-old building, owned by the EfTEN Kinnisvarafond II portfolio, underwent extensive renovation beforehand.
“The hotel was built in 2001 and has been part of the EfTEN Kinnisvarafond II portfolio since 2015. Our experience with the Radisson Hotel shows that significant energy savings can also be achieved by renovating old buildings at reasonable costs. Therefore, obtaining an A-class energy rating does not necessarily require the construction of new, often expensive buildings,” said Merle Purre, Head of ESG at EfTEN Capital. EfTEN invested 250 euros per square meter in the energy efficiency of the building.
“The hotel reached the highest level of energy rating after a thorough renovation from November 2020 to March 2022. In the process, the entire contents of the building were renewed, including technical systems such as plumbing and electrical wires, and new ventilation systems were installed. In addition, the building was connected to the Utilitas district heating and cooling system. The building was transitioned to the artificial intelligence based R8 energy management system to improve the building’s indoor climate and achieve energy savings. As a result of the renovation, energy consumption decreased by 30 percent, helping us significantly reduce costs for investors amidst rising energy prices,” Purre added.