Electric Vehicle Charging Stations

DEAS Asset Management actively seeks to respond to the growing demand from tenants for electric vehicle charging solutions in its managed properties.

DEAS experts Asset Manager Antti Saarinen, Technical Real Estate Manager Mikko Vanhala, and Head of Transactions Finland Henrik Eskolin shared their views on the future of electric vehicle charging solutions in the properties managed by DEAS. In addition, experts from Plugit Oy, Key Account Manager Sami Väänänen, and Sales Manager Mika Sandelin shared their perspectives on the technical aspects and future trends of electric vehicle charging solutions.

According to the experts, there are several reasons for the growth in electric vehicle adoption, with the strongest being: green thinking, ecological transportation, and sustainability.

Legal Requirements & Increased Demand

Finnish legislation now requires property owners to have at least one electric vehicle (EV) charging station in operation in commercial buildings with more than 20 parking spaces by December 31, 2024.

DEAS has identified a growing demand for EV charging stations in leasing and property development projects. In both commercial and residential properties, current tenants and new space seekers have shown growing interest in charging services. From an electric vehicle driver’s perspective, typically approximately 7 hours of charging during the workday can achieve approximately 80–90% charge in an electric vehicle.

In DEAS-managed Finnish property fund DEAS Property Fund Finland I Ky, there are several charging stations across the portfolio, and additional stations will be built by the end of this year, enabling a total of approximately 100 EV charging points.

– DEAS sees having an adequate number of charging stations in a property as a competitive advantage. As demand grows due to the electrification of the vehicle fleet, more charging stations will be built in the future, says Saarinen.

DEAS has installed charging stations in various new development projects, including Barona and Eaton logistics buildings and the Fredriksberg D office property. Additionally, a charging station project for electric vehicles is planned for DEAS managed modern residential portfolio comprising 16 properties in the capital region area, with implementation targeted for later this year.

– Both in commercial and residential properties, the demand for charging solutions has increased, enhancing the attractiveness of spaces in the eyes of tenants and users, summarizes Eskolin.

Technical Requirements

From the property owner’s perspective, the planning of EV charging station project involves addressing several technical and safety-related issues, including the property’s current technical installments and ensuring fire safety compliance with firefighting regulations.

– Additionally, ground works play a significant role in implementing a charging station project in an existing or new property, notes Väänänen.

Selecting a reliable charging operator is also crucial to ensure smooth allocation of charging costs to service users and practical billing management.

– The day to day operation should be as hassle-free as possible for the EV charger. Additionally, legislation requires that, after April 13, 2024, installations of equipment exceeding 50 kW must enable payment by card, states Väänänen.

– For both the property owner and the tenant, around-the-clock customer service from the EV charging operator for usage-related issues is a fundamental requirement for smooth operation and convenience, says Vanhanen.

Future Trends

In commercial properties, EV charging solutions will play a growing role. Companies are increasingly offering their own employees the opportunity to charge electric vehicles at the company’s premises during the workday, thereby attracting more employees back to the office after the COVID years.

The importance of EV charging stations in logistics and industrial properties will grow at a rapid pace. Critical considerations include the company’s own electric fleet and the needs of heavy goods vehicle (HGV) traffic. The electrification of HGV fleet is expected to happen rapidly once the necessary investments in charging infrastructure are made.

According to experts from Plugit Oy, electricity is the future power source for vehicles. The total number of chargeable vehicles in Finland was 218,000 at the end of 2023, an increase of 69,940 compared to the end of 2022.

– The first electric truck charging point was opened in Viinikka, Tampere, in November 2023. Similar projects will be seen in several locations across Finland in the future, says Sandelin.

– The placement of charging points for electric trucks should support the electrification of logistics main routes, enabling competitive implementation of electric road transportation. The strategic placement of charging infrastructure is facilitated through municipal land policy, summarizes Sandelin.

The construction of EV charging stations also brings many other benefits such as:

• Supports green mobility.
• Increases the value of the property as a sign of responsible, pioneering, and customer-oriented focus.
• Positive and modern corporate image.
• Makes the property more attractive to tenants and investors.