Norwegian renewable energy producer Scatec has agreed to acquire the 77 MW Urleasca wind farm from Swedish developer OX2, marking Scatec’s first investment in the European onshore wind sector.
The project is located in Brăila County in southeastern Romania and is scheduled to enter commercial operation in the second half of 2028. OX2 will remain responsible for delivering the wind farm under a construction and asset-transfer agreement.
Scatec will assume ownership after completion and will subsequently provide asset-management and operation-and-maintenance services. The transaction remains subject to customary closing conditions.
The project is expected to require approximately €168 million of investment, equivalent to around €2.18 million per MW. Scatec plans to finance roughly 60 per cent of the cost with non-recourse debt, implying potential project borrowing of about €101 million and an equity requirement close to €67 million.
Urleasca has secured a Romanian contract for difference covering approximately 43 MW, or about 56 per cent of its capacity. The contracted portion carries an average strike price of €71.30/MWh, while output from the remaining capacity will be exposed to Romania’s wholesale electricity market.
The combination creates a mixed revenue model. The CfD provides a contracted foundation for debt financing, while the merchant portion preserves exposure to Romanian power prices and potential upside during periods of regional scarcity.
Scatec already has solar developments in Romania, but Urleasca broadens its portfolio into onshore wind. The distinction is commercially important because Romanian wind generation has a different seasonal and hourly profile from solar and can provide energy outside the midday production window.
Scatec has approximately 6.4 GW of generation capacity and 2 GWh of storage in operation or under construction worldwide. Urleasca remains relatively small within that portfolio, but it provides an entry point into the European wind market and a platform for further Romanian expansion.
The principal delivery risks will lie in construction cost control, grid readiness, turbine availability and the interaction between the CfD and merchant revenues. OX2 retains construction responsibility until transfer, reducing Scatec’s direct development exposure but leaving completion timing central to the project’s economics.
