EIB TO PROVIDE CREDIT TO MOLDOVA FOR INTERCONNECTING MOLDOVAN AND ROMANIAN ENERGY SYSTEMS

The Government approved on Wednesday the start of negotiations on signing the financing agreement on borrowing 80 million euros from the European Investment Bank for implementing the project of interconnecting the electric power networks of Moldova and Romania.

Financial resources will be used for building the Back to Back station in Vulcanesti and the 400 kV power line Vulcanesti-Chisinau, as well as or extending the transformer substation on this section. Thus, the building and the development of necessary infrastructure will be ensured for permanent connection of Moldovan and Romanian electric power networks.

The implementation of the project will raise the level of Moldova's energy safety, providing to it permanent access to the regional electricity market. At the same time, this measure will ensure more attractive prices on electricity for consumers.

The total costs for project implementation are estimated at 270 million euros.