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CMS advises Scatec on project financing for 190 MW solar portfolio in Romania

21/ 04/ 2026
  CMS has advised Scatec ASA (“Scatec”), a leading Norwegian renewable energy company, on the EUR 100 million project financing provided by European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and Banca Comercială Română (BCR) for its 190 MW solar portfolio “Dobrun & Sadova” in Romania.   The portfolio represents Scatec’s first projects in Romania and is located in Dolj and Olt counties in southern Romania. CMS has been Scatecs adviser in Romania since the companys early market entry, advising Scatec on a wide range of legal matters related to the local energy market, project development, and the successful award in Romania’s first CfD auction. For this project, CMS advised on all aspects of the project financing, including finance and security documents. Varinia Radu, Partner and Deputy Head of CEE Energy Projects and Construction Practice Group, Head of Energy and Projects in Romania and Head of Oil & Gas in CEE, commented: “This landmark transaction follows Scatec’s successful participation in Romania’s first CfD auction and highlights the increasing maturity of the local renewables market. It also underscores Scatec’s long‑term commitment to advancing clean energy in the region. We are grateful to have had the opportunity to support Scatec since their entry in Romania and we are delighted to see this project reach financial close and move into the construction phase.” Ramona Dulamea, Energy, Projects and Environment Senior Counsel at CMS Romania, added: “Working alongside Scatec from the early development stages through to financial close has been a truly rewarding experience. The complexity of coordinating the CfD framework requirements with the project agreements and financing documentation required extensive knowledge across all project legal matters and seamless collaboration within our teams.” Kateryna Chechulina, Finance, Partner at CMS Ukraine added: “This transaction stands out for the complexity of the project set-up, the financing structure, and the newly introduced CfD framework, all of which required careful alignment of contractual, regulatory and financing elements. We were pleased to support Scatec on one of the first project financings in the Romanian market to rely on long‑term CfD support. This deal showcases the depth of CMSs cross-border project finance capabilities and our ability to guide clients through novel regulatory frameworks alongside sophisticated multi-lender financing structures.” The CMS multidisciplinary team advising Scatec was led by Ramona Dulamea (Energy and Projects) and Kateryna Chechulina (Finance) with key support under the supervision of partner Varinia Radu. The wider team included Dan Patrascu, (Finance); Raluca Diaconeasa and Madalina Constantinescu (Energy); Alexandru Trandafir (Real Estate), Liudmyla Stryzhak (Finance). CMS team also included Dag Thomas Hansson (CMS Norway) and Alican Babalioglu and Eylul Sakoglu (CMS Turkey). This transaction further strengthens CMSs leading position in renewable energy project finance in Romania, having advised on the largest wind and solar project finance transactions in the country, including the EUR 622 million financing for Phases I and II of Rezolv Energy’s VIFOR wind farm project. - END - For further information, please contact: Darina Gordienko E: [email protected] T: +38044 391 3377 Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 92 offices in over 50 countries across the world and more than 7,200 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

CMS has advised Scatec ASA (“Scatec), a leading Norwegian renewable energy company, on the EUR 100 million project financing provided by European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and Banca Comercială Română (BCR) for its 190 MW solar portfolio “Dobrun & Sadova” in Romania.  

The portfolio represents Scatec’s first projects in Romania and is located in Dolj and Olt counties in southern Romania.

CMS has been Scatec’s adviser in Romania since the company’s early market entry, advising Scatec on a wide range of legal matters related to the local energy market, project development, and the successful award in Romania’s first CfD auction.

For this project, CMS advised on all aspects of the project financing, including finance and security documents.

Varinia Radu, Partner and Deputy Head of CEE Energy Projects and Construction Practice Group, Head of Energy and Projects in Romania and Head of Oil & Gas in CEE, commented: “This landmark transaction follows Scatec’s successful participation in Romania’s first CfD auction and highlights the increasing maturity of the local renewables market. It also underscores Scatec’s long‑term commitment to advancing clean energy in the region. We are grateful to have had the opportunity to support Scatec since their entry in Romania and we are delighted to see this project reach financial close and move into the construction phase.”

Ramona Dulamea, Energy, Projects and Environment Senior Counsel at CMS Romania, added: “Working alongside Scatec from the early development stages through to financial close has been a truly rewarding experience. The complexity of coordinating the CfD framework requirements with the project agreements and financing documentation required extensive knowledge across all project legal matters and seamless collaboration within our teams.”

Kateryna Chechulina, Finance, Partner at CMS Ukraine added: This transaction stands out for the complexity of the project set-up, the financing structure, and the newly introduced CfD framework, all of which required careful alignment of contractual, regulatory and financing elements. We were pleased to support Scatec on one of the first project financings in the Romanian market to rely on longterm CfD support. This deal showcases the depth of CMS’s cross-border project finance capabilities and our ability to guide clients through novel regulatory frameworks alongside sophisticated multi-lender financing structures.”

The CMS multidisciplinary team advising Scatec was led by Ramona Dulamea (Energy and Projects) and Kateryna Chechulina (Finance) with key support under the supervision of partner Varinia Radu. The wider team included Dan Patrascu, (Finance); Raluca Diaconeasa and Madalina Constantinescu (Energy); Alexandru Trandafir (Real Estate), Liudmyla Stryzhak (Finance). CMS team also included Dag Thomas Hansson (CMS Norway) and Alican Babalioglu and Eylul Sakoglu (CMS Turkey).

This transaction further strengthens CMS’s leading position in renewable energy project finance in Romania, having advised on the largest wind and solar project finance transactions in the country, including the EUR 622 million financing for Phases I and II of Rezolv Energy’s VIFOR wind farm project.

– END –

For further information, please contact:

Darina Gordienko

E: [email protected]

T: +38044 391 3377

Notes to editors:

CMS

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 92 offices in over 50 countries across the world and more than 7,200 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

This material is provided by a member company or partner organization of the European Business Association as part of an informational collaboration. The Association is not responsible for the accuracy, completeness, or reliability of the information presented. The views, opinions, and recommendations expressed in this material are solely those of the authors and do not reflect the official position of the European Business Association.

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