World Bank to support project to ensure heat in Chisinau

Chisinau, 19 June /MOLDPRES/- The Board of Directors of the World Bank approved on Thursday financing worth 92 million euros for the second project to improve the efficiency of the centralized heat supply system in Moldova. It will support investments to increase efficiency of centralized heat supply in Chisinau.

The project will allow Termoelectrica company to provide more efficient services to people by installing new energy production equipment in cogeneration, efficient in terms of fuel consumption, as well as through the reconstruction and modernization of existing thermal and electrical energy generation installations. The project will finance investments in increasing energy efficiency and energy conservation in selected public and residential buildings.

"The Republic of Moldova remains highly dependent on imports to meet energy demand, and inefficient energy use leads to higher energy costs for the industrial, commercial, public and residential sectors, representing a major obstacle to economic growth and competitiveness. Moreover, the infrastructure for thermal and electricity production is outdated and worn, making it less reliable and more expensive, and the main cogeneration installations for thermal and electrical energy are at the end of their operational cycle ", a press release of the World Bank says. The investments within the project will contribute to maintaining the reliability of heat supply in Chisinau and significantly improving the efficiency of centralized energy supply system, causing a major reduction in CO2 emissions.

"The World Bank welcomes the launch of this project, which will help the Moldovan authorities and Termoelectrica reinforce success of reform of the central heating system and further increase the operational and financial efficiency of the company for more accessible district heating services, especially for vulnerable and low-income consumers, ”said Anna Akhalkatsi, country manager for Moldova at the World Bank.