Moldova will receive a loan of 143.5 million euros from the EBRD to optimize and modernize the heating system in Chisinau
This is stipulated by the relevant parliament-ratified loan agreement between Moldova and the European Bank for Reconstruction and Development (EBRD). The mentioned EBRD loan will complement the financing of Moldova's other external partners for a large project with a total budget of 326.5 million euros. Thus, the EBRD's contribution to the “Chisinau Municipal District Heating Optimization” project will amount to approximately 44% of its total cost. To implement the project, the EBRD and the European Investment Bank (EIB) will provide loans of 143.5 million euros each. The Eastern Europe Energy Efficiency and Environment Partnership (E5P) will provide a grant of 15 million euros and the EU Neighborhood Investment Platform (EU NIP) a grant of 24.5 million euros. These grants are intended for investments in energy efficiency improvements in the residential buildings sector. It is agreed that the EBRD will provide the loan in 3 tranches: 52.4 million euros, 60.2 million euros and 30.9 million euros. The commitment fee will be 0.5% per annum. A variable interest rate has been agreed: EURIBOR 6 months +1%. In general, under the project on optimization of the heat energy system of Chisinau it is planned to install 2510 individual heat points and to transfer 1665 apartment buildings to the horizontal system of heat carrier distribution. As a result, consumers will be able to independently regulate their energy consumption and turn on or off the heating in their apartments. These measures will help reduce heat losses by up to 30%, lower costs for consumers, and by reducing carbon dioxide emissions, the negative impact on the environment will be reduced. It is also planned to use these funds for insulation of buildings, reconstruction of primary heating networks and construction of 2 pumping stations. All the envisaged measures are aimed at improving the efficiency, reliability and quality of heating and hot water supply services. The Ministry of Energy notes that the buildings sector accounts for about 50% of final energy consumption, so energy efficiency is a national priority. Termoelectrica CEO Iurie Razlovan said earlier that the mentioned project for the optimization of Chisinau's thermal energy system is an important step in modernizing the capital's thermal infrastructure and bringing it in line with European standards. “We are pleased with the support of international partners and the commitment of the Moldovan Government and Ministry of Energy to realize this important initiative for our city. Termoelectrica, together with the partners involved, is committed to the successful implementation of this project, bringing tangible benefits to all consumers in Chisinau,” he emphasized. //13.02.2025 - InfoMarket.
