Energy Minister: Energy efficient building services market could draw investments worth one billion euros

Chisinau, Oct 8 /MOLDPRES/- Energy efficient building services market in Moldova may draw investments worth one billion euros in the coming years. Energy Minister Victor Parlicov made the statement at the launch of the Residential Energy Efficiency Fund (FEERM), which will finance the rehabilitation of more than half a million square meters of housing over the next three years.

"Energy efficiency works in buildings will not only reduce energy bills and increase comfort in our homes, but will also contribute to Moldova's economic growth, generating turnover for construction companies, new jobs, taxes and, at the same time, reduce exposure to imported energy resources," Parlicov said.

The minister noted that the residential sector is the largest energy consumer in Moldova, accounting for about 50% of final energy consumption, and about a quarter of the energy consumed is lost due to low energy efficiency.

Late last week, the National Center for Sustainable Energy announced the selection of the first 59 individual houses with extreme energy vulnerability to be rehabilitated with the support of the FEERM. The homeowners will benefit from the financing of several energy efficiency works that will lead to reducing in their electricity, hot water and heating bills.

The FEERM is a new financial instrument for the Republic of Moldova, which offers financing solutions for energy renovation projects in housing - both for multi-storey blocks and individual households.