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The EBRD will provide a loan of 14 million euros for the implementation of the second phase of the project “Heat and power system of Balti municipality (CET-Nord) ".

The EBRD will provide a loan of 14 million euros for the implementation of the second phase of the project “Heat and power system of Balti municipality (CET-Nord) ".

As noted in the materials of the European Bank for Reconstruction and Development, the total cost of the project is 17 million euros and the EBRD loan of 14 million euros will be supplemented by a loan of 1 million euros from the Green Climate Fund and an investment grant in the amount of 2 million euros, the most likely which is sourced from the Eastern European Energy Efficiency and Environment Partnership (E5P) Fund. The EBRD will provide a loan of 14 million euros in two tranches, while the first tranche of up to 8.5 million euros is expected to be used to finance measures for the introduction of digital technologies and heat storage for further modernization and improvement of the district heating infrastructure in Balti, improving energy efficiency, reducing gas and heat consumption, improving the quality of district heating services in the city. The second tranche, in the amount of up to 5.5 million euros, will help pay off CET-Nord's historic gas debt, which will enable it to operate at full capacity, decide on the most optimal use of cash flows and increase its financial stability. CET-Nord was founded in 1997 and is 100% state-owned. According to the EBRD, the project “Heat and power system of Balti municipality (JSC CET-Nord) ”- Phase II is a follow-up investment in the district heating system in Balti municipality within the framework of the EBRD green cities concept. The project will strengthen the management of CET-Nord, help it solve the problem of low customer satisfaction and improve the efficiency of energy-saving consumer behavior. The project provides for the installation of individual heating substations and horizontal networks; this will allow introducing billing at the apartment level and resuming hot water supply to most of the population. It is expected that this will save 18% of energy and reduce net CO2 emissions by more than 23 thousand tons per year, (-30%), compared to the baseline, as a result of the reduction of gas and electricity consumption by individual boilers and optimization of the centralized heat supply. // 09.12.2021 — InfoMarket

News on the subject

Moldova will receive 21.75 million euros from the E5P Energy Efficiency Fund.
Moldova will receive 21.75 million euros from the E5P Energy Efficiency Fund.
16 small and medium-sized wineries of Moldova, with the support of the USAID project, received new equipment worth $170 thousand.
16 small and medium-sized wineries of Moldova, with the support of the USAID project, received new equipment worth $170 thousand.
In 2021-2022, Germany will provide Moldova with gratuitous financial assistance worth 34.5 million euros.
In 2021-2022, Germany will provide Moldova with gratuitous financial assistance worth 34.5 million euros.
USAID and the Swedish government have launched the Future Technologies project in Moldova with a budget of $ 32.8 million.
USAID and the Swedish government have launched the Future Technologies project in Moldova with a budget of $ 32.8 million.
Austrian group Gebauer & Griller invests another 12 million euros in expanding production in Moldova and will create another 500 new jobs
Austrian group Gebauer & Griller invests another 12 million euros in expanding production in Moldova and will create another 500 new jobs
In 2020, with the support of the European Union, Moldova received 127 million euros in grants and over 1 million doses of vaccines.
In 2020, with the support of the European Union, Moldova received 127 million euros in grants and over 1 million doses of vaccines.