Oslo, 31 July 2026: Scatec ASA ("Scatec"), a leading renewable energy solutions provider, has signed an agreement to acquire the Urleasca onshore wind project in Romania from OX2, a leading European renewable energy developer. The 77 MW project is located in the Brăila county in south-east Romania and is supported by a Contract-for-Difference (CfD) covering approximately 43 MW of the capacity at an average price of EUR 71.3/MWh, with the remaining generation to be sold in the Romanian wholesale electricity market.
The acquisition 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 & 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. A diversified portfolio across technologies and offtake structures, combining long-term contracted revenues with exposure to wholesale market prices, allows Scatec to actively optimise value creation across its European assets.
The Urleasca project was developed by OX2, who will continue to manage the project through to commissioning under a Construction and Asset Transfer Agreement (CATA). Financial close is targeted in Q3 2026, and targeted COD is in the second half of 2028.
"Urleasca is an attractive entry point into European onshore wind. The project has strong fundamentals, long-term revenue visibility through the CfD, and a structured development and construction arrangement with OX2 that gives us a disciplined path to commissioning. Combined with our solar projects already under construction in Romania, this positions Scatec with a more diversified renewable energy portfolio in one of Europe's most compelling markets for the energy transition," says Scatec CEO Terje Pilskog.
The total project cost is estimated at EUR 168 million excluding VAT, and will be financed by a combination of non-recourse debt and equity, with a leverage of approximately 60%. Scatec will provide Asset Management and Operations & Maintenance services following commissioning. The transaction is subject to customary conditions precedent.