The partnership entails that VRSI will invest capital in implementing energy efficiency solutions at One United Properties’ developments.

“At the end of 2021, we have announced publicly, through our adherence to UN Global Compact, a launch of a new sustainability strategy that will incorporate a wide array of environmental, social and governance criteria that caters to the needs of all our stakeholders. As a leading developer in Romania, with every new development, we pay particular attention to reducing carbon emissions to minimize climate change, and streamlining the operational activities to ensure that the developed constructions will maintain their qualities years after their completion. We are thrilled to have found in Veolia România Soluții Integrate a reliable partner who shares our vision for building green and sustainable communities. I am confident that together with VRSI, we will continue to deliver landmarks of urban regeneration, sustainability, and positive environmental impact,” said Andrei Diaconescu, co-CEO at One United Properties.

In the first phase, VRSI will invest in developing and operating a geoexchange heating and cooling system in two developments – One Lake District and One Peninsula. At One Lake District, a residential development located in sector 2 of Bucharest that will host over 2.000 apartments, VRSI will invest in constructing of a geoexchange system that will provide renewable energy to all the inhabitants. By implementing geoxechange solution compared with the traditional one, approximately 2,000 tons of CO2 emissions a year will be avoided, which represents the equivalent of 2,000 cars, considering that one new car emits approx. 100 g CO2/km and it runs 10,000 km / year. Following the investment, VRSI will operate the system for 30 years. The development is due to be delivered at the end of 2024.

At One Peninsula, the first residential club in Bucharest with a geoexchange heat pumps system and the most exclusive complex in the capital city, VRSI will operate the system

built by One United Properties. The geoexchange system consists of a heat pump and 270 geothermal boreholes with a depth of 120 linear meters each, which will provide both the heating agent and cooling water for the villas and apartments located within the One Peninsula complex.

“We are currently witnessing burgeoning public awareness of environmental issues, which, now more than ever, is forcing us to take action. As a result, Veolia, as a world leader in natural resources management, is committed to becoming an ambassador for ecological transformation. The partnership sealed today between Veolia Romania, through Veolia Romania Integrated Solutions, and One United Properties is further proof of the solid capacity and expertise we have in planning, designing, and managing urban water, thermal and sewerage systems in a sustainable and durable manner. By implementing innovative geoexchange heating and cooling solution in the two residential projects, we want to move from the concept of being simple resource users to being resource managers by improving and balancing consumption flows and patterns”, said Madalin Mihailovici, CEO Veolia Romania.

Geoexchange system is among the most energy-efficient solutions, environmentally clean, and cost-effective space conditioning systems available. Geoexchange solution does not emit carbon dioxide, carbon monoxide, or other greenhouse gases that contribute to air pollution. In addition, since the geoexchange systems do not burn significant amounts of fuel such as gas, oil, propane, or coal, they operate at a lower cost and are much cleaner. Consequently, the costs for heating and cooling with geoexchange solution are lower than traditional solution and it will be predictable and long-term consumption autonomy.

The partnership between One United Properties and Veolia is part of a larger sustainability strategy that the real estate developer began rolling out at the end of 2021, following the decision to join the UN Global Compact, the world’s largest sustainability initiative. Following the adherence to UN Global Compact, the company pledged to report on the Sustainability progress annually. The first such report, the 2020 Sustainability Report, is available HERE.