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AS Tallinna Vesi and AS Utilitas Tallinn have agreed to establish a right of superficies for the construction and operation of a wastewater heat pump plant and the buildings serving it on the immovable property at Paljassaare põik 14 belonging to AS Tallinna Vesi.
The right of superficies will be established on a new immovable property with an approximate area of 6,735 m2 which is formed as a separate cadastral unit for the land under the technical facility arising by dividing of the immovable property.
The right of superficies will be established for 50 years as of entry of the right of superficies in the land register. The right of superficies fee is determined based on § 181 of the State Assets Act and the methodology set out in the Regulation No 22 of the Government of the Republic of 09/03/2023, established on the basis thereof, entitled“The regulation on the procedure for special valuation of immovable property”, according to which 3% of the value of the undeveloped immovable property is considered a market-based use fee. The amount of the fee is subject to annual review according to the change in CPI.
The transaction will create a possibility for AS Tallinna Vesi to connect the Wastewater Treatment Plant at Paljassaare to the district heating network predictably by the end of 2025. The transaction will have no material impact on the Company's profits, assets nor liabilities. The transaction is included in the Energy Investment Action Plan, adopted by AS Tallinna Vesi, which provides for the connection of the Wastewater Treatment Plant at Paljassaare to district heating network and for the construction of a wastewater heat pump plant at Paljassaare põik 14 to ensure the security of supply and to reduce the carbon footprint.
AS Utilitas Tallinn's parent company Utilitas OÜ owns 20.36% of the share capital of AS Tallinna Vesi.
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