Scatec signs 15-year CfD contract for Romanian solar portfolio

20 Jan 2025 14:21 CET

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
2025.

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

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