A significant undertaking for Moldova’s energy security is the 400 kV overhead power line project, which involves the interconnection with Romania. This project is progressing with the support of external partners. The Committee on Economy, Budget and Finance, in conjunction with the Committee on Foreign Policy and European Integration, undertook an examination of the draft ratification of the loan agreement between Moldova and the European Bank for Reconstruction and Development for the implementation of the Project “Interconnection of electricity networks between the Republic of Moldova and Romania, phase II.”
The loan agreement, worth €30.8 million, representing 40% of the project’s total budget of €77 million, will cover the construction of the 400 kV line connecting Balti and Suceava. This loan will have a repayment period of 18 years with a grace period of 4 years. The European Investment Bank will donate a further €30.8 million. This will be done by reallocating a loan account from earlier for the implementation of the first phase of the project. Furthermore, the Republic of Moldova will be receiving a grant of €15.4 million from the European Union through the Neighbourhood Investment Platform.
The project will not only connect the power grids of the two countries but will also include the reconstruction of the 400 kV Balti power station and the rehabilitation of the transmission grid segments in the Republic of Moldova. These efforts will include the replacement of switchgear and protection elements as well as electrical transformers.
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This new electricity interconnection represents a significant step in strengthening the links between the Republic of Moldova and Romania, with a positive impact on both the energy security and the regional and economic development of both countries.