Innovation competition for harnessing renewable energy launched

Chisinau, Nov. 10 /MOLDPRES/- The United Nations Development Program (UNDP) has launched an innovation competition for solutions aimed at harnessing renewable energy and stimulating innovations in the energy resilience, given the current energy crisis facing the Republic of Moldova. All proposals must be submitted by November 30.

Through this competition, UNDP will finance renewable energy use solutions, encouraging partnerships with potential private and public investors. The competition will focus on replicable solutions with high potential to produce sustainable results and create conditions for faster economic recovery and increased energy resilience.

"Private companies from the ICT, financial and energy sectors or from any other related sector, which are already registered (or are in the process of registration) in accordance with the legislation of the Republic of Moldova, can enter the competition. Private entities can choose to partner with specialized associations, non-governmental agencies, local public administrations, schools, hospitals, universities, research institutions, etc., according to the UNDP.

The proposed solutions will be evaluated and selected through a competitive process. The winning solutions will be financed by UNDP Moldova, worth up to 40 thousand dollars, but not more than 50 percent of the total value of the project proposal. In the case of collaborative groups of companies, the contributions will be divided equally between the companies involved or according to the specific requirements of the submitted proposal.

Photo: UNDP