The green transition is making great strides in the Nordics, and Finland is one of the leading countries in promoting the energy transition. As ways of advancing the transition, Finland has made record-high investments in green transition projects and made the official processing of permit applications more flexible.
26.5.2023
Green transition is progressing but the permit system is lagging behind
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There are currently several planned emission-free energy projects in Finland – and they are often unprecedented in the energy industry. For example, the production of wind power is being moved from land to sea, and green hydrogen is expected to provide solutions for the needs of energy production in traffic and industry, among others.
However, the regulation and permit systems have not managed to keep up with the pace. As the need of and demand for the green transition is great, projects will advance even if the permit system or regulation is not ready. For example, investors, developers and decision-makers are currently interested in the production of green hydrogen, but the reform of the Industrial Emissions Directive, which is being prepared in the EU, will most likely not be ready before the first hydrogen production plant projects have permits.
The situation forces companies to be creative and adapt to uncertain circumstances. It is possible that an appropriate permit system does not yet exist for the project or investment. As a result, project developers have a greater responsibility and role in designing and leading the permitting process.
Companies need to have a creative strategy, keep a cool head and find a strategic partner that provides them with business-friendly and solution-oriented thinking as well as experience in advancing new innovations.
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Latest references
Merger of Oomi and Lumme Energia
We are acting as the joint legal advisor to Oomi Oy and Lumme Energia Oy in a transaction whereby Lumme Energia will merge with Oomi. As from the completion of the merger, the combined entity will be the largest electricity retail and service company in the Finnish market. In 2024, Oomi reported a turnover of EUR 373.9 million and had approximately 110 employees. Lumme Energia’s turnover for the same year was approximately EUR 314.6 million and it had approximately 50 employees. The transaction is primarily driven by the recent developments in the electricity market and the strategic goal to develop competitive products and services. Another key objective is to further enhance the customer experience, which is a shared value between the two companies. As a result of the merger, Lumme Energia’s customers will transfer to Oomi, and Lumme Energia will become one of Oomi’s shareholders. The completion of the transaction is subject to an approval by the Finnish Competition and Consumer Authority.
Case published 29.8.2025
Oomi – Expansion into mobile telecommunications
We assisted Oomi Oy in its expansion into the mobile telecommunications market with the launch of Oomi Mobiili, a new MVNO brand. Our work covered the preceding due diligence process as well as structuring and negotiating key partner agreements, laying a solid foundation for Oomi’s entry into the new market. Oomi Mobiili will operate as a virtual mobile network operator, offering customers the option to purchase a mobile subscription together with their electricity contract. The phased launch is set to begin in autumn 2025, with nationwide availability targeted for early 2026.
Case published 15.8.2025
Nevel – Acquisition of Labio’s business
We advised Nevel Oy in its acquisition of the business of Labio Oy. Lahti Aqua Oy and Salpakierto Oy sold their entire shareholdings in Labio to Nevel, expanding Nevel’s already significant biogas portfolio. The transaction will have no impact on Lahti Aqua’s water utility operations or Salpakierto’s municipal waste management responsibilities. Labio’s operations and customer relationships will continue as before. ‘This partnership is a natural next step for us as we continue investing in sustainable material efficiency and renewable energy solutions. By integrating Labio’s comprehensive offerings and expertise, we can provide customers with a strong platform for material circularity. We are also strengthening our market position as one of Finland’s leading material efficiency solution providers,’ says Ville Koikkalainen, Director of Industrial and Biogas Business at Nevel. Nevel is an energy infrastructure company offering advanced, climate-positive solutions for industry and real estate. It operates more than 130 energy production plants and manages over 40 district heating networks. Nevel’s annual turnover is EUR 150 million, and it employs 190 experts in Finland, Sweden and Estonia.
Case published 16.7.2025
Oomi Solar – Sale of solar power project portfolio
We advised Oomi Solar Oy on the sale of a 250-megawatt solar power project portfolio to Suomen Aurinkovoima Oy. The portfolio consists of ten separate projects, marking a significant development in the Finnish solar energy market and enabling over EUR 100 million in investments. Construction of the first projects is expected to commence as early as 2025, with sites located across various regions of Finland.
Case published 30.5.2025