Scatec secures a 15-year CfD for a 190 MW solar portfolio in Romania

Renewable energy solutions provider Scatec has signed a 15-year contract for difference (CfD) agreement with Romanian electricity market operator Opcom.

The CfD will secure prices for almost 70% of the projected output from Scatec’s 190MW solar portfolio in Romania, with the remaining electricity to be sold on the Romanian wholesale market.

The contracts were awarded during the inaugural CfD auction in Romania, financed by the EU Modernization Fund.

The fund is a European Union initiative aimed at helping member states achieve their energy targets.

In this first round, 1.5 GW of solar photovoltaic (PV) and onshore wind capacity was awarded in Romania. The rest of the planned total of 5GW is expected to be allocated during 2025.

Scatec CEO Terje Pilskog said: “We are very pleased with the award in Romania, which demonstrates our ability to apply our global history in renewable energy auctions to new markets.

“Romania has supporting market fundamentals where Scatec can use its competitive strengths to build a position. We look forward to continuing the collaboration with Defic Globe, which already has a strong position in the Romanian renewables market.”

This is Scatec’s initial venture in the Romanian market, where it develops projects in partnership with the local entity Defic Globe.

The solar projects are located in Dolj and Olt counties in the southern region of Romania.

Romania’s position as a compelling market is based on its commitment to the energy transition together with well-established mechanisms for power purchase agreements (PPAs) through CfD auctions, corporate PPAs and a developed electricity market.

The estimated capital expenditure for the construction of the solar facilities is 140 million euros ($144.8 million).

The financing will include non-recourse financing and contributions from Scatec and its partners, aiming for a leverage of 75%.

The financial closure of the project and the start of construction are set for the second half of 2025.

Scatec will hold a 65% ownership interest in the solar plants and will be responsible for the procurement of critical components, representing one third of the total capital expenditure.

Defic Globe Enerji, a subsidiary of Emsolt Investments and YEO Teknoloji Enerji, will hold a 35% stake and provide turnkey engineering, procurement and construction services for the project.

Scatec also provides operations and maintenance, and asset management services for the portfolio.

“Scatec secures 15-year CfD for 190 MW solar portfolio in Romania” was originally created and published by Power technologya trademark owned by GlobalData.

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