Enery Secures Virtual Power Purchase Agreement with Nokian Tyres

Schoenherr has facilitated a significant step in the renewable energy sector by advising Enery on an 11-year virtual power purchase agreement (VPPA) with Nokian Tyres. The agreement will enable Nokian Tyres' new factory in Oradea, Romania, to utilize zero CO2 emission energy, advancing their sustainability initiatives. Enery, an independent renewable energy provider, currently boasts a capacity of 490 megawatts, generating close to 700 gigawatt/hours of clean electricity. This deal will allow Enery to construct a new solar power plant in Southern Romania, thereby enhancing the region's renewable infrastructure and contributing to Europe's broader green transition initiatives. Nokian Tyres is a Finnish company specializing in premium tire production, employing 3,400 personnel and listed on Nasdaq Helsinki. This isn't Enery's first foray into such agreements, as they earlier signed a ten-year renewable energy VPPA with Dreher Breweries. The deal was advised by a Schoenherr team led by Partner Monica Cojocaru, Managing Attorney at Law Vlad Cordea, and Attorney at Law Cristina Olariu.