Moldovan parliament ratifies agreement with top European bank on financing interconnection to energy networks of Romania

Chisinau, 20 July /MOLDPRES/ - The parliament today ratified the agreement on loan with the European Bank for Reconstruction and Development (EBRD) on the interconnection of electric energy networks between Moldova and Romania.

Under the Agreement, the EBRD loan is worth 80 million euros – money used to carry out the project titled, Construction, equipment and setting to work of the electricity interconnection between Moldova and Romania.

The state secretary at the Economics and Infrastructure Ministry, Vitalie Iurcu, presented the documents in parliament. “The initiative is in strict accordance with the measures stipulated in the Energy Strategy 2030 and the commitments taken by Moldova within the Energy Community. The project’s carrying out will provide a high level of security and better prices for the domestic market of electric energy, permanent access to the regional electric energy market and as a result, - an end price for energy less burdensome for consumers. The initiative will give possibility to choose without constraints the source of buying energy, either from the East or from the West. This choice will be guided only according to the price and will be independent from the evolution of the market in Ukraine,” Iurcu said.      

The project provides for the construction, endowment and setting to work of the electricity interconnection between Moldova and Romania. It consists of: a back-to-back station in Vulcanesti, a 400 KV transportation line between Vulcanesti and Chisinau, extension of the transformer station from Chisinau; extension of the Vulcanesti station of 400 KV.  

The overall cost of the project, Construction, equipment and setting to work of the electricity interconnection between Moldova and Romania, is of 270 million euros. Of this money, 80 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. 

(Reporter A. Ciobanu, editor L. Alcaza)