Moldova eyes investments from Azerbaijan in renewable energy sphere - Deputy PM

Oil&Gas Materials 6 February 2023 10:53 (UTC +04:00)
Moldova eyes investments from Azerbaijan in renewable energy sphere  - Deputy PM
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Feb.6. Moldova eyes investments from Azerbaijan in renewable energy sphere, Deputy Prime Minister, Ministry of Infrastructure and Regional Development, Moldova Andrei Spinu said in an exclusive interview with Trend.

He recalled that on December 17, 2022, was signed the Agreement on the Strategic Partnership for the development and transport of green energy between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary, which foresees the realization of the submarine cable project (through the Black Sea) for the transport of electricity, with a capacity of about 1000 MW.

“Thus, it is an opportunity for the Republic of Moldova to initiate discussions regarding accessing the transport capacities that will be available following the implementation of this project, in order to facilitate the agreement of long-term contracts regarding the purchase of electricity produced from renewable sources, at competitive prices and its transport to the Republic of Moldova, to diversify sources and increase the security of the country's energy supply. To increase local production, diversify the sources of electricity supply and to reduce Greenhouse Gas (GHG) Emissions in the energy sector, Republic of Moldova needs more investments in new renewable energy sources and in additional other components in order to contribute to the stability and flexibility of the power system. Which creates more opportunities for foreign investors, including private investors from Azerbaijan,” added Anrei Spinu.

In this context, he pointed out that by Government Decision no. 401/2021, the Republic of Moldova has already committed to support the construction of 410 MW of new RES capacities, focusing on wind, solar and non-variable RES (biomass, biogas and small hydropower plants), but, since the Republic of Moldova does not have other sources primary energy, the additional development of RES will be analyzed.

“The Government of the Republic of Moldova will make efforts to stimulate investments in RES by organizing auctions as soon as possible, and the income of RES producers will increase with the help of the income from the guarantees of origin. Emphasis will be placed on accelerating the planning and authorization phases of the SRE facility to remedy historical bottlenecks that are already visible, and all these activities should be carried out in parallel with the implementation of the legislative requirements of the European Union,” Spinu concluded.


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