The government has given its approval for the ratification of a crucial loan agreement with the European Bank for Reconstruction and Development (EBRD) to facilitate the construction of the Balti-Suceava overhead power line, a significant component of the Moldova-Romania power interconnection project, Phase II.
This investment endeavor aims to seamlessly integrate Moldova’s grid into the European Union market by establishing vital connections with the ENTSO-E grid. By doing so, it is poised to enhance the efficiency of Moldova’s national energy sector while concurrently paving the way for the exploration and utilization of various energy sources, including renewable ones.
Beyond the new 400 kV overhead power line installation linking the municipalities of Balti and Suceava in Moldova and Romania respectively, the project will also involve the construction of a 400 kV power station.
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Under the agreement’s terms with the EBRD, a loan amounting to €30.8 million, which constitutes 40% of the total project cost, will be provided. Furthermore, the European Investment Bank (EIB) will contribute an additional €30.8 million towards the initiative, bringing the total project value to an estimated €77 million.