Renewable energy developer Scatec has agreed to acquire the 77 MW Urleasca onshore wind project in Romania from European renewable energy company OX2, adding wind power to its growing European portfolio.
The agreement has been signed, with financial close targeted for the third quarter of 2026 and commercial operation expected in the second half of 2028.
Scatec will take ownership of the project, while OX2 will continue managing development activities through commissioning under a Construction and Asset Transfer Agreement (CATA). The project is located in Brăila county in south-east Romania.
The acquisition gives Scatec its first onshore wind asset in Europe and strengthens its position in Romania, where it is already developing 190 MW of solar capacity through the Dobrun and Sadova projects.
The Urleasca wind farm will benefit from a Contract-for-Difference (CfD) covering around 43 MW of its capacity, with an average strike price of €71.3/MWh. Electricity from the remaining capacity will be sold into Romania’s wholesale market, creating a mixed revenue structure combining long-term price certainty with market exposure.
Scatec said the combination of solar and wind assets supports its strategy of building diversified renewable energy portfolios across technologies and power markets.
“Urleasca is an attractive entry point into European onshore wind,” said Scatec CEO Terje Pilskog. “The project has strong fundamentals, long-term revenue visibility through the CfD, and a structured development and construction arrangement with OX2 that gives us a disciplined path to commissioning.”
The total project cost is estimated at €168 million excluding VAT. Financing is expected to combine non-recourse debt and equity, with leverage of approximately 60%.
Following completion, Scatec will provide asset management and operations and maintenance services for the wind farm.
The deal reflects growing investor interest in Romania’s renewable energy sector, where new wind and solar capacity is being developed to support decarbonisation and reduce reliance on conventional generation. By combining the Urleasca wind project with its solar developments already under construction, Scatec is creating a multi-technology renewable platform in the country.
The transaction remains subject to customary closing conditions.
