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 Br ila 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.
For further information, please contact: For analysts and investors: Andreas Austrell, SVP Investor Relations andreas.austrell@scatec.com
For media: Meera Bhatia, SVP External Affairs & Communications meera.bhatia@scatec.com
About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.4 GW generation and 2 GWh storage capacity in operation and under construction across five continents. We are committed to growing our renewable energy portfolio, delivered by our passionate employees and partners who are driven by a common vision of Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol SCATC'. To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR. The information was submitted for publication, through the agency of the contact persons set out above, 31.07.2026 15:42 CEST.
More information: Access the news on Oslo Bors NewsWeb site
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