Norwegian solar energy company Scatec has signed a 15-year Contract-for-Difference agreement for a Romanian solar energy portfolio, according to a press release.

The agreement is signed with the electricity market operator Opcom, and will cover around 70% of the estimated production from the 190 megawatt portfolio. The remaining production will be sold on the Romanian wholesale electricity market.

"The contracts were awarded in the first CfD auction in Romania financed by the EU Modernization Fund. The Modernization Fund is an EU programme set up to support selected member states in achieving their energy goals. Approximately 1.5 gigawatts of solar and onshore wind power were 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," the company writes.