Scatec secures €168 million financing for Romanian wind project, operational by 2028

en.Wedoany.com Reported - Scatec has secured financing for its 77 MW Urleasca wind project, marking the company's first onshore wind venture in Europe. Scatec stated that the total project cost is approximately €168 million, with commercial operation planned for the second half of 2028, complementing the 190 MW Dobrun and Sadova solar projects currently under construction in Romania.

The project is financed through a combination of debt and equity, with a leverage ratio of approximately 60%. Erste Group and Banca Comercială Română (BCR) serve as the mandated lead arrangers and underwriters for the debt financing, with Scatec holding 100% equity in the project. Stockholm-based Swedish developer OX2 will manage the project from construction through commissioning, after which Scatec will handle operations, maintenance, and asset management.

Alongside the project announcement, Scatec released its Q2 2026 results this week. Proportionate revenue reflects Scatec's share based on its ownership stake. For April to June, this revenue amounted to NOK 2,286 million (approximately €210.4 million), compared to NOK 2,302 million (approximately €211.8 million) in the same period of 2025; quarterly EBITDA stood at NOK 1,016 million (approximately €93.5 million), versus NOK 1,130 million (approximately €104 million) in the same period of 2025. Quarterly power generation reached 1,135 GWh, up 21% year-on-year, driven mainly by newly commissioned projects.

The Development & Construction (D&C) segment posted quarterly revenue of NOK 1,231 million (approximately €113.3 million), compared to NOK 976 million (approximately €89.8 million) in the same period of 2025; quarterly EBITDA was NOK 234 million (approximately €21.5 million), versus NOK 49 million (approximately €4.5 million) in the same period of 2025. The D&C segment achieved a gross margin of 24%, well above the company's target range of 10% to 12%. At the group level, net income was NOK -157 million (approximately €-14.4 million), compared to NOK 314 million (approximately €28.9 million) in the same period of 2025.

In addition to the Romanian project groundbreaking, several projects reached commercial operation during the quarter, including Phase II of the Obelisk solar plant in Egypt (563 MW); the Buciumi battery energy storage project in Romania (89 MW capacity, 178 MWh storage capacity) was added to the project pipeline. Scatec also announced a new bond issuance of NOK 1,000 million (approximately €92 million) to refinance its most expensive corporate bonds. CEO Terje Pilskog stated that the company's construction portfolio continues to advance, with operational plants making significant contributions to generation and revenue. Scatec confirmed that its 2026 targets remain within reach.

For 2026, Scatec expects proportionate power generation of between 5.05 and 5.35 TWh, and Power Production segment EBITDA of between NOK 3,600 million and NOK 3,900 million (approximately €331.3 million to €358.9 million). Through the Romanian project, Scatec continues to expand its footprint across multiple markets while adding a new technology to its portfolio.

In terms of share price, Scatec, listed on the RENIXX World index, fell 1.8% over the past week to €8.90, with the stock currently trading near its level at the start of the year (closing price of €8.94 on December 30, 2025).