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Scatec signs 15 year CfD contract for Romanian solar portfolio

Scatec ASA secures 15-year renewable energy contract with Opcom in Romania.

Scatec ASA, a leading global renewable energy company, will supply 1.2 GW of renewable energy to Opcom, which will be used to power the Romanian electricity grid.

The Deal: A 15-Year Contract-for-Difference

Scatec ASA has secured a 15-year Contract-for-Difference (CfD) with Opcom, the Romanian electricity market operator. This contract is a significant milestone for Scatec ASA, marking its entry into the Romanian renewable energy market. The contract was awarded in the first CfD auction in Romania, which was held in 2022.

Key Features of the Contract

  • The contract is for 2 GW of renewable energy, which will be supplied to Opcom. The contract is for a period of 15 years, with the option to extend for an additional 5 years. The contract is based on a CfD model, which means that Scatec ASA will receive a fixed price for the renewable energy it supplies to Opcom. ## Benefits for Scatec ASA*

    • Benefits for Scatec ASA

    The contract with Opcom presents several benefits for Scatec ASA. Some of the key benefits include:

  • Increased presence in the Romanian market: The contract marks Scatec ASA’s entry into the Romanian renewable energy market, providing the company with a new opportunity to grow its presence in the region.

    Project Portfolio in Romania

    Scatec will be advancing its first project portfolio in Romania, with a focus on the southernmost part of the country. The projects are located in Dolj and Olt counties, which are expected to play a significant role in the country’s energy transition.

    Key Features of the Projects

  • Renewable Energy Sources: The projects will utilize renewable energy sources, such as wind and solar power, to generate electricity. Carbon Capture and Storage: The projects will also incorporate carbon capture and storage (CCS) technology to minimize greenhouse gas emissions.

    Overview of the Solar Plant Project

    The solar plant project, located in the United Arab Emirates (UAE), is a significant investment in renewable energy infrastructure. The project aims to generate 1.5 GW of electricity, making it one of the largest solar power plants in the region.

    Key Features of the Project

  • The solar plant will be built on a 1,000-hectare site in the Al Dhafra region of Abu Dhabi. The project will utilize a combination of solar photovoltaic (PV) and concentrated solar power (CSP) technologies. The plant will have a capacity factor of 35%, which is higher than the average capacity factor for solar power plants in the UAE. The project will be designed to operate for at least 25 years, with a planned maintenance schedule to ensure optimal performance. ### Financing and Ownership

    • Financing and Ownership

    The estimated total capital expenditure (capex) for the solar plant is EUR 140 million, to be financed by non-recourse financing and equity. Scatec will have a 65% ownership stake in the solar plants and procure key components for the project.

    Benefits of the Project

  • The project will reduce the UAE’s reliance on fossil fuels and lower greenhouse gas emissions. The solar plant will create jobs and stimulate local economic growth.

    For further information, please contact: For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686, [email protected] For media: Meera Bhatia, SVP External Affairs & Communications, phone: +47 468 44 959, [email protected] 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 or connect with us on LinkedIn.

    Defic Globe is a leading provider of renewable energy solutions in Turkey, with a focus on solar and wind power.

    Overview of Defic Globe

    Defic Globe is a Turkish company that specializes in the development and implementation of renewable energy projects. With its strong presence in the Turkish market, Defic Globe has established itself as a reliable and efficient provider of solar and wind power solutions.

    Key Features and Services

  • Solar Power Projects: Defic Globe offers a range of solar power projects, including rooftop solar, ground-mounted solar, and solar water heating systems. Wind Power Projects: The company also provides wind power projects, including onshore and offshore wind farms.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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