Acquisition of Urleasca wind project from OX2
Norwegian renewable energy producer Scatec has agreed to acquire the 77 MW Urleasca wind farm from Swedish developer OX2. The deal marks Scatec’s first investment in the European onshore wind sector. The transaction is subject to customary closing conditions.
Project location and construction-to-operations timeline
The Urleasca project is located in Brăila County in southeastern Romania. Commercial operation is scheduled for the second half of 2028. Under a construction and asset-transfer agreement, OX2 will remain responsible for delivering the wind farm. After completion, Scatec will assume ownership and provide asset-management along with operation-and-maintenance services.
Investment scale and financing structure
The project is expected to require approximately €168 million in investment, equivalent to around €2.18 million per MW. Scatec plans to finance roughly 60% of the cost with non-recourse debt. That implies potential project borrowing of about €101 million, with equity requirements close to €67 million.
CfD coverage and exposure to wholesale power prices
Urleasca has secured a Romanian contract for difference covering approximately 43 MW, or about 56% of its capacity. The contracted portion carries an average strike price of €71.30/MWh. Output from the remaining capacity will be exposed to Romania’s wholesale electricity market. The arrangement results in a mixed revenue model combining CfD-backed cash flows with merchant exposure to power prices.
Portfolio context and key delivery risks
Scatec already has solar developments in Romania, while Urleasca expands its portfolio into onshore wind. The company said the distinction matters because Romanian wind generation has a different seasonal and hourly profile from solar, including production outside the midday window. Scatec has about 6.4 GW of generation capacity and 2 GWh of storage worldwide in operation or under construction.
The principal delivery risks identified include construction cost control, grid readiness, turbine availability, and how CfD and merchant revenues interact. OX2 retains construction responsibility until transfer, which reduces Scatec’s direct development exposure but keeps completion timing central to the project’s economics.
