Scatec ASA

Regulatory Filings • Jan 20, 2025

Scatec signs 15-year CfD contract for Romanian solar portfolio

Scatec signs 15-year CfD contract for Romanian solar portfolio

Oslo, 20 January 2025: Scatec ASA, a leading renewable energy solutions

provider, has signed a 15-year Contract-for-Difference (CfD) with Opcom, the

Romanian electricity market operator. The CfD will cover approximately 70% of

the estimated production from a 190 MW solar portfolio, with the remaining

production being sold in the Romanian wholesale electricity market.

The contracts were awarded in the first CfD auction in Romania funded by the EU

Modernisation Fund. The Modernisation Fund is an EU programme established to

support selected member states to meet their energy targets. Approximately 1.5

GW of solar PV and onshore wind was awarded in this first round in Romania,

while the remainder of a total auction plan of 5 GW is expected to be awarded in

With this award, Scatec will advance its first project portfolio in the country

which is being developed in collaboration with Defic Globe, Scatec's local

partner. The projects are in Dolj and Olt counties in the southernmost part of

Romania.

Romania has attractive market fundamentals, a clear energy transition agenda,

and established offtake routes through the CfD auctions, corporate PPAs and a

mature electricity market.

"We are very pleased with the award in Romania which demonstrates our ability to

apply our global track record within renewable energy auctions to new markets.

Romania has supportive market fundamentals where Scatec can utilise its

competitive strengths to build a position. We look forward to continued

collaboration with Defic Globe, which already has a strong position in the

Romanian renewables market," says Scatec CEO Terje Pilskog.

The estimated total capital expenditure (capex) for the solar plant is EUR 140

million, to be financed by non-recourse financing and equity from Scatec and

partners, with a targeted leverage of approximately 75%. Financial close and

construction start for the solar plants is expected in the second half of 2025.

Scatec will have a 65% ownership stake in the solar plants and procure key

components for the project, comprising about 30% of total capex. Our partner

DEFIC Globe Enerji A.?. (Defic Globe), a subsidiary of Emsolt Investments and

YEO Teknoloji Enerji, will have a 35% ownership stake and provide turnkey EPC to

the project. Scatec will further provide Operations & Maintenance (O&M) and

Asset Management (AM) services for the portfolio.

For further information, please contact:

For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,

andreas.austrell@scatec.com

(mailto:andreas.austrell@scatec.com)For media: Meera Bhatia, SVP External

Affairs & Communications, phone: +47 468 44 959, meera.bhatia@scatec.com

(mailto:meera.bhatia@scatec.com)

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy emerging markets. As a long-term player, we

develop, build, own, and operate renewable energy plants, with 5 GW in operation

and under construction across five continents today. We are committed to grow

our renewable energy capacity, delivered by our passionate employees and

partners who are driven by a common vision of 'Improving our Future'. Scatec is

headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the

ticker symbol 'SCATC'. To learn more, visit www.scatec.com

(https://scatec.com/) or connect with us on LinkedIn

(https://www.linkedin.com/company/scatec).

About Defic Globe

Defic Globe is an independent power producer (IPP) and EPC contractor owned by

Yeo Teknoloji A.S. and Emsolt Investments B.V. We are dedicated to driving the

transition to reliable and affordable clean energy under the vision of 'Building

a Greener Tomorrow powered by a passionate team. Defic develops, construct,

invest, and operates renewable energy projects, leveraging

its worldwide extensive expertise in EPC. Defic also develops and invests in

stand-alone and integrated batter energy storage systems under the expertise of

Reap Battery, another group company of Yeo Teknoloji. Defic Globe is

headquartered in Istanbul Turkey. To learn more,

visit https://deficglobe.com/ or connect with us on LinkedIn

(https://www.linkedin.com/company/deficglobe).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act