Scatec completes financing and starts construction of 77 MW onshore wind project in Romania

en.Wedoany.com Reported - On August 20, Norwegian renewable energy producer Scatec ASA announced the financial close and start of construction for the Urleasca onshore wind project in Romania. With an installed capacity of 77 MW, this is Scatec's first onshore wind project in Europe.

The project is located in Brăila County in southeastern Romania, approximately 150 kilometers from the capital, Bucharest. The wind farm will feature 11 Nordex N175/6.X series turbines. The total investment is approximately €168 million (excluding VAT), financed through a combination of non-recourse project debt and equity, with a leverage ratio of about 60%. Erste Group and Banca Comercială Română (BCR) serve as the mandated lead arrangers and underwriters for the debt financing.

The project has signed a 15-year Contract for Difference (CfD) with the Romanian government, covering approximately 43 MW of installed capacity at an average price of €71.3 per MWh; the remaining output will be sold on the local wholesale electricity market. The project has also signed a grid connection agreement with Romanian transmission operator Transelectrica.

Scatec acquired the project from Swedish developer OX2 on July 31. OX2 will continue to oversee construction until commissioning is complete. Scatec holds 100% equity in the project and will be responsible for operations, maintenance, and asset management once it becomes operational. Together with the 190 MW Dobrun and Sadova solar projects currently under construction in Romania, this project forms a multi-technology renewable energy portfolio for Scatec. Commercial operation is expected in the second half of 2028.