Hungary/Romania: Schoenherr advises Enery on sealing 10-year solar VPPA with Dreher Breweries
Schoenherr advised Enery, one of the leading players in the renewable energy sector in Central and Eastern Europe, on signing a 10-year virtual cross-border power purchase agreement (VPPA) with Dreher Breweries (Dreher Sörgyárak Zrt.), part of Asahi Europe & International. The agreement aims to provide green energy and guarantees of origin for the production at Dreher Breweries' facilities in Hungary.
Under the deal, Austria-based Enery will provide the venerable Hungarian brewery with 14 GWh of certified renewable electricity a year, starting from January 2025. This marks Enery's second long-term VPPA with subsidiaries of Asahi Europe & International, following a 50-MWp VPPA with Romania's Ursus Breweries concluded in 2023.
The innovative contract supports Asahi Europe & International's goal of becoming carbon neutral in all its breweries by 2030. Additionally, it is one of the first major PPAs in the Hungarian FMCG sector, as well as a sustainability undertaking yet to be followed in the local food industry.
"This marks Enery's second long-term VPPA with subsidiaries of Asahi Europe & International, following a 50-MWp VPPA with Romania's Ursus Breweries concluded in 2023," said Schoenherr partner Monica Cojocaru. "We are proud to have been alongside Enery in these innovative projects in their respective markets."
Schoenherr's support covered the full range of contractual and regulatory matters in connection with the structuring, drafting, negotiation and signing of the VPPAs.
"Cross-border PPAs will play a crucial role in supporting the green transition all across Europe," said Schoenherr attorney at law Gergely Horváth. "Deals like these will set the precedent for this emerging market. We are extraordinarily proud of the regional cooperation of the Schoenherr energy teams, who are truly at the forefront of cross-border advisory on PPAs in the CEE region."
Enery has an operating renewable energy portfolio of 312 MW, generating almost 450 GWh, as well as a development pipeline of more than 8 GW in 11 countries. The agreement with Dreher Breweries stands out as unique in the CEE region because the asset and the off-taker are situated in different market zones.
The Schoenherr team advising on both transactions was led by Monica Cojocaru (partner, Romania) and Vlad Cordea (managing attorney at law, Romania). Gergely Horváth (attorney at law) provided assistance in the Hungarian transaction with Dreher Breweries.