The Republic of Moldova will receive a grant of €15.4 million to co-finance the 400 kV Balti-Suceava overhead power line, the second phase of the project to interconnect the electricity grids between Moldova and Romania.
The grant agreement was signed today by Prime Minister Dorin Recean, the head of the European Bank for Reconstruction and Development office in Moldova, Catarina Bjorlin Hansen, and the acting general director of Moldelectrica, Sergiu Aparatu, IPN reports.
The EBRD's support represents a 20% co-financing of the 400 kV Balti-Suceava overhead power line project. The funds will also be used for the rehabilitation of the national transmission grid by replacing obsolete equipment.
"This additional agreement implies free financial means to build interconnection lines with Romania and to ensure electricity deliveries," Prime Minister Dorin Recean said.
Catarina Bjorlin noted that the European Bank's assistance will strengthen the government's efforts to diversify energy resources. "This is a project that will help the Republic of Moldova to build a secure and reliable electricity supply system," the EBRD Moldova's head noted.
The total value of the electricity interconnection project between the Republic of Moldova and Romania is €77 million. The EBRD and the European Investment Bank have previously contributed €30.8 million each for the project until December 2027.
