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World’s largest thermal energy storage to be built in Vantaa, Finland
(www.vantaanenergia.fi)
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There is a difference between electricity and thermal energy.
I don't know the details, but it's highly likely that they are using waste heat from power generation or industrial processes here. They are not going to be using excess renewable energy.
To use excess wind or solar to generate thermal energy, you would need to invest in extra grid capacity, or electric energy storage (e.g. batteries, which are much more expensive) and either use heat pumps, or resistive elements, which would then require even more grid capacity.
And even if you would do all of that, you would only have excess renewable energy a few hundred hours per year, so it will not pay for itself