Romania: Schoenherr advises Enery on virtual power purchase agreement with Nokian Tyres

According to Nokian Tyres, its new passenger car tyre factory in Oradea will be the world's first full-scale tire factory with zero CO₂ emissions, operating entirely without fossil fuels.

"PPA is one of the most effective tools for companies to reduce their carbon footprint and secure their long-term electricity costs," said Schoenherr partner Monica Cojocaru, who together with managing attorney at law Vlad Cordea co-led the team advising Enery in this matter. "We see a growing interest from businesses in this solution that supports their sustainability and energy transition goals. We are happy to have advised Enery in securing a series of PPAs, backing the company's commitment to fostering a cleaner energy future."

Enery is an independent renewable energy provider dedicated to supplying its customers with reliable, affordable, long-term green energy. With a diversified green fleet currently generating almost 700 GWh of clean electricity from 490 MW and powering 277,706 households, Enery is at the forefront of driving the CEE region's transition to sustainable energy. The company's plans include ongoing development projects with more than 8 GW in 11 countries.

Nokian Tyres develops and manufactures premium tyres for passenger cars, trucks and heavy machinery with sustainability at the heart of all its operations. The company, which employs 3,400 people, registered net sales of EUR 1.2bln in 2023. Nokian Tyres is listed on Nasdaq Helsinki.

The Schoenherr team advising Enery in this matter was led by Monica Cojocaru (partner) and Vlad Cordea (managing attorney at law) and included Cristina Olariu (attorney at law).