Enery Secures Virtual Power Purchase Agreement with Nokian Tyres
Deal News | Dec 09, 2024 | CEE Legal Matters

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.
Sectors
- Renewable Energy
- Automotive
- Legal Services
Geography
- Romania – The location of Nokian Tyres' new factory and the planned solar power plant by Enery.
- Finland – Nokian Tyres is headquartered in Finland and listed on Nasdaq Helsinki.
Industry
- Renewable Energy – The article involves Enery, a renewable energy provider, and discusses a Virtual Power Purchase Agreement to supply clean energy.
- Automotive – Nokian Tyres, a company in the automotive sector producing premium tires, is a key participant in the agreement.
- Legal Services – Schoenherr is a law firm advising on the agreement, indicating its role within the legal services sector.
Financials
Participants
Name | Role | Type | Description |
---|---|---|---|
Enery | Renewable Energy Provider | Company | An independent provider of renewable energy, involved in the VPPA with Nokian Tyres. |
Nokian Tyres | Energy Buyer | Company | A Finnish tire manufacturing company entering into the agreement to receive renewable energy. |
Schoenherr | Legal Advisor | Company | A law firm advising Enery on the virtual power purchase agreement. |
Monica Cojocaru | Partner at Schoenherr | Person | Partner leading the advisory team for the agreement. |
Vlad Cordea | Managing Attorney at Law | Person | A member of the Schoenherr advisory team. |
Cristina Olariu | Attorney at Law | Person | A member of the Schoenherr advisory team. |