Scatec has strengthened its position in one of Europe’s fastest-growing renewable energy markets by acquiring the 77 MW Urleasca onshore wind project in Romania from Swedish developer OX2. The transaction marks the Norwegian company’s first investment in onshore wind in Europe and significantly broadens its Romanian portfolio beyond utility-scale solar.
The acquisition follows a series of milestones for Scatec during 2026 as the company accelerates growth across Europe, Africa, Asia and Latin America. Romania has emerged as one of its key strategic markets, supported by the country’s new CfD scheme and improving investment conditions.
Building a multi-technology platform
The Urleasca wind farm is located in Brăila County in south-east Romania and will have an installed capacity of 77 MW.
Approximately 43 MW of the project’s capacity has secured revenue under Romania’s first CfD auction at an average strike price of €71.3/MWh, while electricity generated by the remaining capacity will be sold into the Romanian wholesale market. The combination provides both long-term revenue stability and exposure to merchant electricity prices.
For Scatec, the acquisition is strategically important because it creates a diversified renewable generation platform rather than a standalone wind investment.
The company is already constructing the 190 MW Dobrun and Sadova solar portfolio, which reached financial close earlier this year. Those projects benefit from 15-year CfD contracts covering around 70% of expected production, with commercial operation scheduled for the second half of 2027.
Once Urleasca enters operation, Scatec will operate both solar and wind assets in Romania, enabling greater production diversity while reducing weather-related generation risk.
OX2 remains responsible for delivery
Although ownership will transfer to Scatec, OX2 will continue managing development and construction through a Construction and Asset Transfer Agreement (CATA).
Financial close is expected during the third quarter of 2026, while commercial operation is targeted for the second half of 2028.
The project carries an estimated investment value of €168 million excluding VAT. Financing is expected to comprise approximately 60% non-recourse project debt, with the balance funded through equity.
Following commissioning, Scatec will provide both long-term asset management and operations and maintenance services, allowing the company to retain operational control throughout the asset’s lifecycle.
Romania becomes a strategic European growth market
The acquisition underlines the growing importance of Romania within Scatec’s European expansion strategy.
Earlier this year, the company reached financial close on its first Romanian investments – the 190 MW Dobrun and Sadova solar projects – describing the country’s new CfD framework as an important milestone for attracting international capital.
Romania has become increasingly attractive for developers following the introduction of long-term revenue support mechanisms designed to accelerate renewable deployment while reducing financing costs.
For Scatec, combining contracted revenues with merchant market exposure also aligns with its broader portfolio strategy, allowing optimisation across different technologies and electricity market conditions.
Part of a wider global expansion
The Romanian acquisition forms part of one of Scatec’s busiest development periods in recent years.
During the first half of 2026, the company continued expanding its international portfolio across Europe, Africa, Asia and Latin America. Alongside progress in Romania, Scatec advanced major renewable energy projects in South Africa, Colombia and the Philippines, while bringing new solar assets into commercial operation in Tunisia and Brazil and expanding its battery energy storage activities in Asia.
Among the company’s notable announcements this year were:
- Financial close and construction start of the 190 MW Dobrun & Sadova solar portfolio in Romania.
- Progress on the 900 MW Shadwan wind project in Egypt.
- Commissioning of the Rio Urucuia solar project in Brazil.
- Advancement of battery energy storage developments in the Philippines.
- Continued growth of its project pipeline across emerging and European renewable energy markets.
These developments reflect Scatec’s strategy of building a diversified portfolio spanning solar, wind and battery storage while balancing long-term contracted revenues with merchant electricity sales.
The acquisition should not be confused with the separate 102 MW Urleasca wind farm developed by BIG Mega Renewable Energy, which entered operation in 2025 in the same area of Brăila County.
Strengthening Scatec’s European position
Although Scatec has historically built its reputation through large-scale solar developments in emerging markets, the Urleasca acquisition signals a broader European ambition.
Entering the European onshore wind sector gives the company greater technology diversification while leveraging its expertise in project development, financing, construction and long-term asset management.
For Romania, the transaction is another indication that the country’s renewable energy market is attracting major international investors seeking stable returns under the CfD framework alongside exposure to Europe’s increasingly dynamic wholesale electricity markets.
With nearly 270 MW of renewable capacity now either under construction or development in Romania, Scatec is establishing the country as one of the key pillars of its European growth strategy.
