The MPs on July 20 ratified the leading agreement between the Republic of Moldova and the European Bank for Reconstruction and Development for implementing the project to interconnect the electric power networks of Moldova and Romania, Phase 1, which was signed in Chisinau on December 20,  2017, IPN reports.

The total cost of the project “Construction, equipment and placing into operation of the electricity interconnections between the Republic of Moldova and Romania” is €270 million. The amount includes loans from the EBRD and EIB of €80 each, €70 million in financing from the World Bank and a grant of €40 million from the EU’s NIF.

The project envisions the construction, equipment and placing into operation of the electricity interconnections between Moldova and Romania, which consist of a Back-to-Back station in Vulcanesti, a 400kV power transportation line between Vulcanesti and Chisinau, the extension of the station in Chisinau and of the station in Vulcanesti, of 400kV.

The investment is to recovered through the regulated electric power transportation tariff.

Democratic MP Marian Lupu said Moldova should develop its own electricity sources based on the existing possibilities and realities. The given project is welcome as it comes to ensure more electric power sources for the country.