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Scatec ASA, a top renewable energy provider, has signed a 15-year Contract-for-Difference (CfD) with Opcom, Romania’s electricity market operator. The CfD will cover about 70% of the expected output from a 190 MW solar energy portfolio, with the rest sold in Romania’s wholesale electricity market.These contracts were awarded in Romania’s first CfD auction, which was supported by the EU Modernisation Fund. The fund helps EU countries meet their energy goals. In this initial auction, Romania awarded about 1.5 GW of solar and wind projects, with the remaining 3.5 GW expected to be awarded in 2025. With this agreement, Scatec will move forward with its first solar projects in Romania, in partnership with local company Defic Globe. These projects are based in Dolj and Olt counties, located in southern Romania. Romania is an attractive market for renewable energy, with a clear energy transition plan, established offtake options like CfD auctions and corporate power purchase agreements (PPAs), and a developed electricity market “We are very pleased with the award in Romania which demonstrates our ability to apply our global track record within renewable energy auctions to new markets. Romania has supportive market fundamentals where Scatec can utilise its competitive strengths to build a position. We look forward to continued collaboration with Defic Globe, which already has a strong position in the Romanian renewables market,” stated Scatec CEO Terje Pilskog. The total investment for the solar plant is estimated at EUR 140 million. This will be funded through a combination of non-recourse financing and equity contributions from Scatec and its partners, with a planned debt-to-equity ratio of about 75%. Construction is set to begin in the second half of 2025, following financial close. Scatec will own 65% of the solar plant and handle the procurement of key components, which will account for about 30% of the total investment. The remaining 35% will be owned by DEFIC Globe Enerji A.S. (Defic Globe), a subsidiary of Emsolt Investments and YEO Teknoloji Enerji. Defic Globe will act as the turnkey EPC (Engineering, Procurement, and Construction) provider for the project. Scatec will also oversee Operations & Maintenance (O&M) and Asset Management (AM) for the solar plant portfolio. |
