Scatec ASA, a leading renewable energy solutions provider, has secured financing for its 77 MW Urleasca onshore wind project in Romania, enabling the project to start construction. The project is supported by a Contract-for-Difference (CfD) covering approximately 57% of expected production.
The Urleasca project marks Scatec's entry into onshore wind in Europe and complements the company's existing solar portfolio in Romania, which includes the 190 MW Dobrun and Sadova solar projects currently under construction. Together, the projects establish a multi-technology renewable energy portfolio in Romania across solar and wind, in line with Scatec’s strategy.
“Urleasca marks Scatec’s entry into European onshore wind and strengthens our position in Romania. By adding wind to our portfolio, we are broadening our technology mix and creating a stronger platform for long-term value creation,” said Scatec CEO Terje Pilskog.
“This is an important milestone for our growth in Romania. With multiple renewable projects now under construction, we are building scale in a market with strong fundamentals and significant potential. This gives us a solid foundation to capture opportunities across technologies and offtake structures,” added Alex Patrascu, Country Manager Romania at Scatec.
The total project cost is approximately €168 million excluding VAT, financed through a combination of non-recourse project debt and equity, with a leverage of approximately 60%. Erste Group and Banca Comerciala Româna (BCR) are the mandated lead arrangers and underwriters of the debt financing. Scatec holds a 100% ownership stake in the project.
OX2 will manage construction until commissioning under a construction and asset transfer agreement (CATA), and Scatec will provide operations & maintenance and asset management services following commissioning. Commercial operations date is targeted in 2H28.
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