Scatec, a leading renewable energy solutions provider, has reached financial close for its 190 MW solar portfolio 'Dobrun & Sadova' in Romania, and will now start construction. The projects are supported by a 15-year Contract-for-Difference (CfD) with Opcom, the Romanian electricity market operator, covering approximately 70% of the estimated production. The remaining production will be sold in the Romanian wholesale electricity market.
'Reaching financial close and starting construction of our first projects in Romania is an important step and confirms the attractiveness of the Romanian market and the strength of the CfD framework. With long-term revenue visibility and a robust financing structure in place, the projects are well positioned for construction and delivery. We look forward to advancing the projects together with our partner Defic Globe and contributing to Romania’s energy transition,' says Terje Pilskog, CEO of Scatec.
The CfD contracts were awarded through Romania’s first CfD auction, funded by the EU Modernisation Fund, which supports selected EU member states in achieving their energy transition targets. The portfolio represents Scatec’s first projects in Romania and is in Dolj and Olt counties in southern Romania.
The total capital expenditure (capex) for the portfolio is approximately EUR 121 million and will be financed through a combination of non-recourse project debt and equity, with a leverage of approximately 70%. The senior lenders for the project are European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and Banca Comerciala Româna (BCR).
Scatec will own 65% of the equity in the projects, while Defic Globe will hold the remaining 35%. Defic Globe will deliver turnkey Engineering, Procurement and Construction (EPC) services, while Scatec will procure key components corresponding to approximately 35% of total capex. Scatec will provide Operations & Maintenance (O&M) and Asset Management (AM) services for the portfolio. Commercial operation date is expected in the second half of 2027.
Source: Scatec
