Release date: 30 August 2017
Promoter – Financial Intermediary
IS MOLDELECTRICALocation
Description
The project consists of the construction of the power interconnection Isaccea – Vulcanesti – Chisinau between the Republic of Moldova and Romania. It will include the construction of a converter station in Vulcanesti, a 400kV transmission line between Vulcanesti and Chisinau as well as extensions of the existing Vulcanesti and Chisinau substations.
Objectives
Electricity production in Moldova relies on a dominant electricity producer located in the region of Transnistria. The electricity purchased from this power plant and imports from Ukraine meet up to 80% of the overall demand. The project will contribute to the diversification of supply and the energy security of the country. The project will also contribute to connecting the country to the European electricity market, which will increase competition and improve access to cheaper sources of electricity. The project is also expected to foster opportunities for cross-border electricity trade in the South-Eastern Europe region.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Under ELM Guarantee
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
EUR 270 million
Environmental aspects
An Environmental and Social Impact Assessment (ESIA) is currently under development for the project in the context of the feasibility study, in accordance with Moldovan and EU standards. It will be subject to public consultation. A land acquisition and compensation plan will need to be developed for the high voltage line component once detailed design information is available.
Procurement
The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.
Status
Signed - 20/12/2017
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).