Financing milestone for Urleasca project
Norwegian renewable energy developer Scatec has completed financing for the 77 MW Urleasca wind project in Romania. The development marks its entry into the European onshore wind market. The project is located in Braila county.
Urleasca is set to use 11 Nordex N175/6.X turbines. Commercial operation is scheduled for the second half of 2028. Scatec acquired the project from Swedish developer OX2 in August.
Turbine scope, construction handover and operating responsibilities
OX2 will remain responsible for construction of the facility. After completion, the project will be transferred to Scatec. Scatec will then handle operations, maintenance and long-term asset management.
Total investment for the wind farm is estimated at around €168 million, excluding VAT. The financing plan includes both debt and equity components. Approximately 60% of the project cost will be financed through non-recourse debt.
Debt providers and Contract for Difference coverage
The non-recourse debt will be provided by Erste Group and Banca Comerciala Romana. The remainder of the investment will be funded through equity. Revenue risk is partly reduced through Romania’s Contract for Difference mechanism.
About 43 MW of Urleasca’s capacity is covered by a CfD with an average strike price of €71.3/MWh. Electricity from the remaining capacity will be exposed to the Romanian wholesale market.
The overall structure reflects how Romania’s CfD framework supports bankability for large renewable projects while leaving part of output linked to market prices.
