EBRD to lend €143.5 million to Moldova to modernise biggest district heating supplier in Chisinau
The European Bank for Reconstruction and Development (EBRD) will lend €143.5 million to Moldova to modernise the biggest district heating supplier in its capital, Chisinau. This loan will enhance efficiency at Termoelectrica JSC by introducing billing for individual apartments and reducing carbon dioxide emissions by 40,000 tonnes annually. The signing ceremony took place on 29 November, in Chisinau.
The EBRD loan will be matched by a parallel €143.5 million loan from the European Investment Bank, as well as investment grants of €24.5 million from the European Union’s Neighbourhood Investment Programme, and €15 million from the Eastern Europe Energy Efficiency and Environment Programme (E5P).
Moving to a “horizontal” system where apartments are billed individually based on consumption in 1,600 buildings around the city is key to the efficiency gains of this project. The project also prepares the city’s district heating system for use of renewable and waste heat sources as it phases out fossil fuel-based heat generation.
“This is a key project to enhance Moldova’s energy security,” said Mark Bowman, EBRD Vice President for Policy and Partnerships.
Victor Parlicov, Moldova’s Energy Minister, said: “Investing in district heating not only enhances energy efficiency but also improves the quality of life for nearly 400,000 residents of Chisinau, giving customers greater control over their heating systems through apartment-level, consumption-based billing.”
“The EU has adopted a Growth Plan for the Republic of Moldova worth €1.8 billion for the period 2025-2027. Focus is placed on the integration of Moldova into the EU energy market as it moves towards a decarbonised economy,” said Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova.
Find out more
MOST READ
[popular_posts columns_xl=”4″ columns_l=”4″ columns_m=”3″]
