YEO Teknoloji Invests $111.2 Million in Solar Power Plant in Romania

Global renewable energy and energy technology company YEO Teknoloji signed a USD 111.2 million turnkey construction contract with its European subsidiary Defic Globe for two solar power plants in Romania. Defic Globe will undertake turnkey construction of the solar power plants while also holding a 35 percent stake as an investor. The plants will be implemented jointly with Scatec, one of Norway's largest renewable energy groups.

YEO Teknoloji, a leading player in Romania's market as both an investor and EPC (Engineering, Procurement, Installation) provider in renewable energy projects, has signed another major contract. YEO Teknoloji signed a USD 111.2 million contract covering EPC services for two solar power plant projects developed in Romania (Dobrun & Sadova). YEO Teknoloji's European subsidiary Defic Globe will undertake turnkey construction of the solar power plants while also holding a 35 percent stake as an investor. The plants will be implemented with Scatec, the group with the largest renewable energy portfolio in Norway.

According to an agreement with Opcom, Romania's electricity market operator, the total 190 MW solar investment will operate 65 percent under the Contracts for Difference (CfD) mechanism, meaning with floor price guarantees provided by the state for 15 years. CfD contracts are provided to European Union countries and financed by the EU Modernization Fund to enable countries' green energy transition.

The plants, scheduled to be commissioned in the second half of 2027, are financed under a non-recourse financing structure by the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and Banca Comercială Română (BCR).

Joint investment with Norwegian Scatec
The solar power plants, to be fully implemented through Defic Globe's turnkey EPC contract, will include engineering, equipment procurement and installation work, as well as construction of high-voltage transformer centers and power transmission lines. In the project where Defic Globe holds a 35 percent share, the remaining 65 percent will be held by Norwegian renewable energy company Scatec. Scatec, one of Norway's largest renewable energy groups, is developing renewable energy plants with a total capacity of 6.2 GW across five continents in operation and under construction. 

Caracal Solar Power Plant in Romania, YEO Teknoloji's first investment in Europe, continues to generate clean energy. In this project, integration of energy storage systems developed by Reap Battery is planned to support grid flexibility.

Alongside the Caracal project, along with investments in Bobiceşti, Turceni-Măceşu, Vâlcea, Caracal 2, Dobrun and Sadova areas, YEO Teknoloji's total solar energy portfolio in Romania reaches 887 MWp. YEO Teknoloji is positioned in Romania as both an EPC contractor and Independent Power Producer (IPP), and through Defic Globe as a long-term investor.

YEO Teknoloji CEO Tolunay Yıldız commented on the project as follows: "We are continuing our global growth in renewable energy and energy technologies. Romania is at the heart of this vision in Europe. We are committed to leading the green transition through investments in the Romanian market. As both an EPC provider and investor, we will contribute to Europe's green energy vision through this project."

Over 400 projects in 40 countries
Founded in 2004, YEO Teknoloji today stands as a global player having successfully completed over 400 projects in more than 40 countries in engineering, technology and renewable energy. It operates across a wide range including advanced energy storage solutions to electricity grids, high-voltage transformer centers to renewable energy plants, industrial and commercial facilities to residential energy transformation and hydrogen technologies.

YEO Teknoloji continues its investments toward a 1 GW installed capacity target by 2030; using its strong EPC capabilities and investor identity together, it continues to implement a sustainable and balanced growth strategy in Turkey and international markets under the motto "Possible for Us".