Three financing agreements for the project of interconnection of electricity networks in the Republic of Moldova with those in Romania have been signed today, September 26, by the Ministry of Finance. Moldova will be able to access financing of 60 million-euro loan and 40 million-euro grant for the modernization of the energy system. The money will be used in particular for the construction of the back-to-back type power station in Vulcanesti and for the construction of an interconnection line between the south of the Republic of Moldova and Chisinau, IPN reports.
According to the Minister of Finance, Natalia Gavrilița, these agreements support an important project that will contribute to reducing the energy dependence of the Republic of Moldova. The project is developed jointly by the Government, the European Bank for Reconstruction and Development, the European Investment Bank, the World Bank and the European Union. "This is a strategic project for Moldova," stressed Natalia Gavrilița.
The Minister of Economy and Infrastructure, Vadim Brînzan, has mentioned that it is a large-scale project that will require investments of hundreds of millions of euros. This will result in lower tariffs and will increase the competitiveness of domestic products and goods.
EU Ambassador to the Republic of Moldova Peter Michalko has specified that this is a project which really needs a technical, political and financial commitment. A project that will bring major benefits for increasing competition on the energy market. "Our goal is to achieve full integration into the European Union's energy network," said Peter Michalko.
The director of the EBRD office in Chisinau, Angela Sax, has stated that the project is a proof of the joint efforts of the EBRD, the EIB, the WB and the EU. And it is not the only one. Four more are planned.
Anna Akhalkatsi, World Bank country manager, said that the role of the World Bank in this project was to support the construction of the 400 kW interconnection transmission line, the modernization of Chisinau and Vulcanesti substations and the consolidation of the electricity dispatching and metering system. "These components of the program are important to ensure that this back-to-back electrical connection is really brought into citizens’ homes," said Anna Akhalkatsi.
The head of the European Investment Bank's Representation in the Republic of Moldova, Antonio Castillo, says that the project is an important step in ensuring an additional electricity resource for the Republic of Moldova. "Through these projects, with the participation of the EIB, we will contribute to energy security and stability, opening the market for more competition and more energy sources and at fairly established tariffs," said Antonio Castillo.