The EBRD will provide Moldova with a €30.8 million loan for the construction of the 400 kV Balti -Suceava transmission line.
The Cabinet approved the signing of a loan agreement between Moldova and the European Bank for Reconstruction and Development for the implementation of the project "Moldova-Romania Power Interconnection, Phase II". The EBRD will provide a €30.8 million loan for this purpose, which accounts for 40 per cent of the total cost of the project. Another 40% (€30.8 million) of the financing will be provided by the European Investment Bank and the EU in a loan, and the remaining €15.4 million will be provided by the EU in a grant through the Neighborhood Investment Platform. The total budget for the second phase of the project will amount to €77 million. Thus, the EBRD will finance a number of project components: construction of the 400 kV Balti-Suceava transmission line; construction of the Balti 400 kV station; rehabilitation of the internal transmission networks in Moldova; consultancy support for project implementation and related supervision and design works. Also, part of the investments will be used to reinforce the internal power transmission networks of Moldelectrica state enterprise. The project "Moldova-Romania Power Interconnection, Phase II" will be financed by EBRD and EIB loans and an EU grant, and its main goal is to complete another energy interconnection between Moldova and Romania by the end of 2027, with commissioning in 2028. As InfoMarket reported earlier, a tender has already been announced to select the company that will carry out the design and construction of the 400 kV Balti-Suceava transmission line. "Moldova-Romania Power Interconnection Project, Phase I" was launched in 2017 and its goal is to finance the construction of the 400 kV Vulcanesti-Chisinau overhead transmission line, which will allow importing electricity, bypassing Moldavskaya GRES. The construction should be completed in 2025. Both transmission line projects are very important for the two countries, as the new lines will significantly contribute to increasing the capacity of electricity transmission from Romania to Moldova. Their construction will provide certainty of unrestricted access to electricity from Europe. // 06.04.2024 - InfoMarket
