Moldova eyes 400 MW of new capacity in bid to get 20% of energy from renewables by 2020

Moldova plans to cover 20% of its electricity needs with power from renewable sources by 2020 and in line with that goal intends to add 400 megawatts of renewable energy capacity, mostly wind, at an estimated cost of more than 600 million euro ($803 million), the economy ministry said on Friday.

The draft of the country's renewable energy action plan also envisages an upgrade of its thermal power plants and the integration of facilities in the Transdniestria region, the ministry said in a statement.

According to the impact assessment, just reaching a target for a 10% share of energy from renewable sources will generate investments of 250 million euro while creating many new jobs, influencing positively gross domestic product.

The plan, which was created in line with the European Commission's directive on renewable energy, includes also measures aimed at protecting investors. A 15-year contract will secure the sale of the electrical energy produced from renewable sources.

($ = 0.7416 euro)

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