Termoelectrica secures €326 million for energy system modernization
Termoelectrica is receiving financial support of 326 million euros from European partners for the first time. This project is part of one of the most ambitious initiatives to modernize the energy infrastructure in the Republic of Moldova.
The project is being implemented with the support of two major international financial institutions: the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). These institutions are collaborating in a joint partnership to support this strategic program.
The project is expected to last approximately seven years and aims to modernize over 2,500 individual heating points. Additionally, around 1,700 residential blocks will transition from a single-pipe distribution system to a horizontal system. Concurrently, existing heating networks will be rehabilitated, and two additional pumping stations will be constructed if necessary.
Iurie Razlova, the director of Termoelectrica, emphasized that an important aspect of this project is that 40 million euros of the total funding will be provided as grants, meaning they will not need to be repaid.
In parallel, a French company, under the auspices of the Embassy of the French Republic, is conducting a comprehensive study of the entire district heating system in the municipality. This study aims to enhance energy efficiency and reduce natural gas consumption, thereby contributing to a more sustainable system that is less reliant on external resources.
The company's director noted that this large-scale initiative is a result of the remarkable support the Republic of Moldova receives from international partners, which can be attributed to the ongoing efforts of the state leadership.
