The Republic of Moldova has unveiled a plan to boost renewable energy production by offering investment incentives aimed at attracting foreign backers.
Key measures include priority access to connection approvals for auction winners, long-term fixed-rate contracts for up to 15 years and support mechanisms for both small and large-scale producers.
Moldova is also opening its renewable energy market to large-scale investors through a series of tenders for renewable energy projects.
The Ministry of Energy in Chisinau has announced offers for these auctions will be accepted from September 2024 to January 2025.
With the recent tender announcements, Moldova plans to add 105MW for wind farms and 60MW for solar parks to its current installed capacity.
The capacity limit for obtaining prominent eligible producer status is set at 4MW for wind and 1MW for solar schemes.
The ministry has implemented measures to facilitate investor participation, including prioritising connection approvals for large-scale renewable energy producers who win the auction.
Additionally, new legislation is being developed to ensure competitiveness and efficiency in the approval process.
“Not all investors will have the necessary connection approvals when they submit their auction bids,” said State Secretary at the Ministry of Energy Carolina Novac.
“As an initial solution, we will prioritise granting connection approvals to large eligible producers who are selected as winners of the auction,” she added.
Moldova’s energy landscape has shifted considerably since 2022, following the conflict in Ukraine where Moldova rapidly connected to the European energy system and reduced its reliance on Russian energy supplies.
The country aims to produce at least 30% of its electricity from renewable sources by 2030.
As part of this strategy, Moldova is set to join the International Solar Energy Alliance (ISA), aligning itself with 98 countries committed to expanding solar energy production.
In addition to these goals, the country has secured significant external financing, including tens of millions of US dollars from the European Bank for Reconstruction and Development (EBRD) and the US Agency for International Development (USAID).
This funding will support the construction of 300km energy interconnection lines with Romania, enhancing Moldova’s national energy system’s reliability and import/export capacity.