Moldovan government approves ratification of loan agreements with EBRD, EIB for interconnection to Romanian power grid

Chisinau, 11 July /MOLDPRES/ – The Cabinet of Ministers has approved today the ratification of two Loan Agreements for interconnection of electricity networks between Moldova and Romania. The loans from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) amount €80 million each.

According to the government's communication and protocol department, money will be used for project: "Construction, equipment and putting into operation of electrical interconnection between Moldova and Romania". More specifically, it involves construction, equipping and commissioning of the electrical interconnection between Moldova and Romania, consisting of: a back-to-back station in Vulcanesti; a 400kV electricity transmission line between Vulcanesti and Chisinau; extension of station in Chisinau; in Moldova; expansion of Vulcanesti station of 400kV.

The initiative corresponds to measures stipulated within Energy Strategy 2030 and commitments undertaken by Moldova in the Energy Community.

"The project will increase the security of Moldova's electricity supply. This project comes after we started the natural gas interconnection, which ensures security of our country in it and the fact that we will not be dependent on one source," said PM.

The estimated project cost is €270 million, of which €80 million loans from EBRD and EIB, World Bank (WB) funding – €70 million and EU grant – €40 million.