Renewable Energy Breakthrough: Scatec Secures 15-Year Contract in Romania
A New Era for Solar Power in Eastern Europe
Scatec, a leading provider of renewable energy solutions, has made a significant stride in Romania by securing a 15-year contract-for-difference (CfD) agreement with Opcom, the country’s electricity market operator. This milestone deal will ensure stable pricing for nearly 70% of the projected output from Scatec’s 190MW solar portfolio in Romania.
EU Modernisation Fund Supports Renewable Energy Ambitions
The CfD agreement was made possible through Romania’s inaugural CfD auction, financed by the EU Modernisation Fund. This initiative, launched by the European Union, aims to support member states in achieving their energy objectives. In this first round, a total of 1.5GW of solar photovoltaic (PV) and onshore wind capacity was awarded in Romania, with the remaining 3.5GW expected to be allocated in 2025.
Scatec CEO Terje Pilskog: “A Compelling Market for Renewable Energy”
“We are thrilled with the award in Romania, which demonstrates our ability to apply our global track record within renewable energy auctions to new markets,” said Scatec CEO Terje Pilskog. “Romania has supportive market fundamentals, and we look forward to continued collaboration with Defic Globe, which already has a strong position in the Romanian renewables market.”
Partnership with Defic Globe Drives Growth
This marks Scatec’s entry into the Romanian market, where it is developing projects in partnership with local entity Defic Globe. The solar projects are located in Dolj and Olt counties in Romania’s southern region. Romania’s commitment to the energy transition, combined with its well-established mechanisms for power purchase agreements (PPAs) through CfD auctions, corporate PPAs, and a developed electricity market, make it an attractive market for renewable energy investors.
Financial Details and Project Timeline
The estimated capital expenditure for constructing the solar facilities stands at €140m ($144.8m). Funding will comprise non-recourse financing and contributions from Scatec and its partners, aiming for 75% leverage. Project financial closure and commencement of construction are set for the second half of 2025. Scatec will hold 65% ownership interest in the solar plants and be responsible for procuring critical components, which represent one-third of the total capital expenditure. Defic Globe Enerji will hold a 35% stake and deliver turnkey engineering, procurement, and construction services for the project. Scatec will also provide operations and maintenance, and asset management services for the portfolio.
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