The financing agreement between the Republic of Moldova and the European Investment Bank (EIB) on the implementation of the project SE Moldelectrica Transmission Network Rehabilitation Project that was signed in 2012 will be extended for another two years, until December 26, 2020. The Cabinet on November 21 approved the initiation of negotiations and the signing of an amendment to this effect, IPN reports.
The document will enable to fully use the €17 million lent by the EIB for rehabilitating the national electric power transmission infrastructure. A sum of €7.4 million has been used so far to change the power transformers and an electrical reactor. These works will be completed in 2019. Under the agreement, four power stations will be reconstructed at a cost of €9.6 million. The signing of the amendment will enable to perform these works during the next two years.
The project SE Moldelectrica Transmission Network Rehabilitation Project that is financed by a number of international organizations, such as the EBRD and the EIB, also includes other activities aimed at developing the national energy sector, such as the reconstruction of high-voltage distribution systems and five power transmission lines with a length of 128 km and the integration of Moldova’s energy sector into the European Network of Transmission System Operators for Electricity (ENTSO-E).
