EU offers €8 million to Moldova to rehabilitate Moldelectrica transmission grid

The European Union will grant €8 million to Moldova to rehabilitate the transmission network of the state enterprise Moldelectrica and prepare the Moldovan power grid for interconnection with the European grid, Info-Prim Neo reports. The Cabinet on Thursday has formally launched negotiations on a financing agreement to this effect. The total budget of the financial assistance project for the rehabilitation of the power grid is €33.6 million, including the €8 million grant. The rest has been borrowed from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). Economy Minister Valeriu Lazar noted that this project of modernizing the national power system is a requirement for Moldova to join the European Network of Transmission System Operators for Electricity (ENTSO-E) and a priority included in the Government Program. Joining the ENTSO-E implies the physical integration of Moldova's electricity network into the European one, which will help to diversify electricity supply sources and enhance the energy security of our country.