Norwegian renewable energy developer Scatec has completed financing for the 77 MW Urleasca wind project in Romania, marking its entry into the European onshore wind market.
The project, located in Braila county, will use 11 Nordex N175/6.X turbines and is scheduled to enter commercial operation in the second half of 2028.
Scatec acquired Urleasca from Swedish developer OX2 in August. OX2 will remain responsible for construction before transferring the completed facility to Scatec, which will subsequently handle operations, maintenance and long-term asset management.
Total investment is estimated at around €168 million excluding VAT.
Approximately 60% of the project cost will be financed through non-recourse debt provided by Erste Group and Banca Comerciala Romana, with the remainder funded through equity.
Revenue risk has been partly reduced through Romania’s Contract for Difference mechanism. Around 43 MW of the wind farm’s capacity is covered by a CfD with an average strike price of €71.3/MWh, while electricity from the remaining capacity will be exposed to the Romanian wholesale market.
The financing structure illustrates how Romania’s CfD framework is beginning to support bankability for large renewable projects while leaving part of their output exposed to market prices.
