Scatec ASA has secured financing for its 77 MW Urleasca onshore wind project in Romania, allowing construction of the project to begin. The project is supported by a Contract-for-Difference (CfD) covering approximately 57% of its expected electricity production.
The Urleasca project represents Scatec’s entry into the European onshore wind market and expands its renewable energy portfolio in Romania beyond solar. The company is currently developing the 190 MW Dobrun & Sadova solar projects in the country, which are under construction.
The total cost of the Urleasca project is estimated at approximately EUR 168 million, excluding VAT. The project will be financed through a combination of non-recourse project debt and equity, with debt accounting for approximately 60% of the financing structure.
Erste Group and Banca Comerciala Română (BCR) have been appointed as mandated lead arrangers and underwriters for the debt financing. Scatec will retain 100% ownership of the project.
OX2 will oversee construction through commissioning under a Construction and Asset Transfer Agreement (CATA). Following commissioning, Scatec will provide operations and maintenance (O&M) and asset management services for the project.
Commercial operations are targeted for the second half of 2028.
The Urleasca project will add wind generation to Scatec’s growing Romanian renewable energy portfolio, creating a multi-technology platform spanning both solar and onshore wind.
“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 Terje Pilskog, CEO of Scatec.
Alex Patrascu, Country Manager Romania at Scatec, said the project represents an important milestone for the company’s growth in the country, where multiple renewable energy projects are now under construction.
