Over 30 million euros to be reallocated for co-financing construction of new energy interconnection with Romania

As much as 30.8 million euros will be used to co-finance the construction of a new interconnection with Romania, through the realization of the 400 kV Balti - Suceava Overhead Power Line, as well as the extension of the Balti - 400 kV electric station.

The investment will be possible after the government today approved the project on the initiation of negotiations and signing of Amendment No. 2 to the financing contract between Moldova and the European Investment Bank (EIB), initially signed on December 20, 2017, concerning the Moldova-Romania electricity interconnection project.

State Secretary of the Ministry of Energy Cristina Pereteatcu said that the purpose of the amendment was to reallocate 30.8 million euros from the financing contract signed in 2017, initially meant for the back-to-back station at Vulcanesti, for the construction project of the 400 kV Balti-Suceava high-voltage overhead power line, as well as for the rehabilitation of the energy transport network on the territory of Moldova.

"This amendment opens the way for essential funding, in order to advance the interconnection process with the Romanian and European energy system. The project includes not only the construction of the new power line, but also the modernization of internal infrastructure, in order to enhance the energy resilience of the northern regions of the country," said Cristina Pereteatcu.

The document will allow the financing of concrete actions, including the construction of the 400 kV power transmission line between Balti and Suceava, the extension and modernization of the Balti - 400 kV electric station, and the rehabilitation of present internal energy transport networks.

"Through this effort, with our partners from the EIB, we strengthen our position on the regional energy map and advance towards full integration into the European energy market. These investments will bring direct benefits to citizens and contribute to increased energy security," the official also said.

The amendment does not alter the financial conditions of the financing contract and will come into effect after ratification by Moldova’s parliament and official notification to the EIB regarding the fulfillment of all necessary internal procedures.

The Balti-Suceava High Voltage Power Line Project represents the second project after Vulcanesti-Chisinau, which will ensure an increased level of energy security of Moldova and will significantly contribute to increasing the technical and commercial capacity for importing electricity.