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Sorainen Advises Vettenfall on EUR 1 Million Investment in Fermi Energia

Sorainen Advises Vettenfall on EUR 1 Million Investment in Fermi Energia

Estonia
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Sorainen has advised state-owned Swedish energy group Vattenfall on its EUR 1 million seed investment into Fermi Energia.

As a result of the deal, Vattenfall will become a minority stakeholder of Fermi Energia, a small-scale nuclear power plant developer in Estonia.

“With this minority investment, Vattenfall can contribute its know-how and work jointly on feasibility studies about costing, supply chain and capabilities to construct and operate Small Modular Reactor technology,” says Torbjorn Wahlborg, Senior Vice President Generation at Vattenfall. “Innovative and fossil-free future nuclear generation such as SMR seems very promising for Estonia, which has the highest average CO2 emissions per generated kilowatt hour of electricity of all EU member states.”

Sorainen’s team was led by Counsel Lauri Liivat and included Partner Toomas Prangli, Senior Associate Kaspar Endrikson, Associate Vladislav Leiri, and Legal Assistant Eva Lennuk.

Sorainen did not reply to our inquiry on the deal.