Contract on financing with European Investment Bank on electricity interconnection with Romania published in Moldova's Official Journal

Chisinau, 17 July /MOLDPRES/ - The law on the ratification of the contract on financing between Moldova and the European Investment Bank (EIB) today was published in the Official Journal of Moldova (Monitorul Oficial). The document was signed in Chisinau on 20 December 2017 and provides for the electricity inter-connection Moldova-Romania.

The contract sees providing of a BEI loan worth 80 million euros for works of construction and developing the infrastructure needed for the permanent interconnection of the electric energy transportation networks from Romania and Moldova.   

The sum of the loan will be transferred in 20 installments; each installment will have not to be lower than one million euros. The commissions and interests will be calculated for each installment separately, based on the deposit rate. The loan’s repayment period is 25 years.

As much as 270 million euros will be used for the full implementation of the project on asynchronous inter-connection of Moldova’s electric energy system to the one of Romania. Eighty million euros of this money is provided by EIB, 80 million euros – by the European Bank for Reconstruction and Development, 70 million euros – by the World Bank and 40 million euros is offered by EU as grant.  

The final goal is to construct, endow and set to work the electricity inter-connection between Moldova and Romania, including a back-to-back station in Vulcanesti, a 400 KV transportation line between Vulcanesti and Chisinau, extending the transformer station from Chisinau and the Vulcanesti station of 400 KV.  

According to the authorities, the investment will be recovered at the expense of the regulated tariff for electric energy’s transportation.

(Reporter A. Ciobanu, editor M. Jantovan)