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Moldova and the EIB will extend the financing contract for the Moldelectrica transport network modernization project until December 30, 2022, which will make it possible to use the last tranche of EUR 1.5 million.

Moldova and the EIB will extend the financing contract for the Moldelectrica transport network modernization project until December 30, 2022, which will make it possible to use the last tranche of EUR 1.5 million.

In particular, the relevant decision was approved by the Moldovan government, approving the start of negotiations with the European Investment Banks on this issue and the signing of the corresponding amendment to the agreement signed on June 26, 2012. This will allow Moldova to use the last tranche of 1.5 million euros from the total loan of the EIB in the amount € 17 million allocated to rehabilitate the national electricity transmission infrastructure. In particular, the parties intend to sign amendment N4 to the contract, according to which the term for the execution of the financial agreement between Moldova and the European Investment Bank on the Electricity Transportation project implemented by Moldelectrica will be extended from 102 months (according to the current contract) to 126 months, respectively, until December 30, 2022, and this will allow to receive and use the remaining tranche of 1.5 million euros for the successful completion of the project. The authority to sign the amendment with the EIB was given to Finance Minister Dumitru Budianschi. According to Deputy Prime Minister, Minister of Infrastructure and Regional Development Andrei Spinu, in general, this project will help strengthen the country's energy security, maintain the quality of electricity transmission services and improve the operational safety of high-voltage networks. After receiving the last part of the money from the EIB, Moldelectrica will complete the last tender for project “C” for the reconstruction of electrical substations. Earlier it was reported that the Moldelectrica transport grid modernization project, financed by a number of international structures, including the EBRD and the EIB, stipulates the restoration of Moldelectrica's internal transport network by upgrading 400 kV and 110/10 kV substations, as well as three 110 kV transmission lines, ranging from 1 km to 20 km, installation of new transformers, other equipment, etc. The implementation of the project will increase the energy security of Moldova and the energy efficiency of the Moldelectrica network, strengthen the stability of electricity supply and improve the overall functioning of the company, which is a prerequisite for Moldova's joining the European network of transmission system operators ENTSO-E.// 17.11.2021 — InfoMarket

News on the subject

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The volume of natural gas consumed before November 1, which was not included in the October bills of household consumers, will be assessed according to old tariffs, Moldovagaz stated.
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The total cost of the contract signed with the Indian company KEC International for the construction of a high-voltage transmission line Vulcanesti-Chisinau 400 kV is almost 27 million euros, but the cost of the project may increase.
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Prices for oil products in Moldova continue to decline against the background of a decrease in their cost on international markets – ANRE stated.
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In the current situation, there should be some elements of state support for sectors of the economy that will be negatively affected by the rise in gas tariffs - Vadim Ceban stated.