The government approved the ratification of agreements with the EBRD and the EIB, which provide for loans worth 80 million euro each for the project on the interconnection of the energy systems of Moldova and Romania, totaling 270 million euro
It is planned that the World Bank will allocate a loan worth 70 million euro for the implementation of this project and the EU - an investment grant amounting to 40 million euro. Both loan agreements with the EBRD and the EIB were signed in Chisinau on December 20, 2017. According to the documents, the EBRD loan is provided for a period of 18 years with a 3-year vacation for interest payments at EURIBOR + 1% per year. The loan will be allocated in 30 tranches. At the same time, under the EIB loan, which will be allocated for a period of 25 years in 20 tranches, the rates will be determined for each of them separately, taking into account the EURIBOR rates for payments in euro and LIBOR for payments in US dollars. The project itself is scheduled to be implemented by the end of 2022. It should be noted that the interconnection of the energy systems of Moldova and Romania is of decisive importance for the diversification of our country's electric power resources. At the moment, the country depends on a single power plant that provides up to 80% of electricity supply, as well as from the import of electricity from Ukraine. Connecting to Romania's electricity network will significantly improve the stability and reliability of electricity supply. This is a prerequisite for the economic development of the country. Diversification of electric power resources will open the electricity market of Moldova for increased competition. Expanded access to the European market will bring economic benefits to Moldovan citizens and business. Investments will cover the construction of a new 400 kV high-voltage power transmission line between Vulcanesti in the south of Moldova and the capital Chisinau, the modernization and expansion of substations in Chisinau and Vulcanesti, and the construction of a 600-megawatt back-to-back substation in Vulcanesti. The connection will be made by the Moldelectrica electric power company within 3 years - from 2019 to 2022. //11.07.2018 - InfoMarket.