| Project Detail |
Location:
Moldova
Project number:
53191
Business sector:
Energy
Notice type:
Private
Environmental category:
B
Approval date:
19 Oct 2022
Status:
Concept Reviewed
PSD disclosed:
13 Sep 2022
Project Description
A secured senior loan of up to USD 30 million to ICS Premier Energy Distribution S.A. ("Premier Energy", the "Company") to finance the Companys 2022-2025 investment programme. The overall capex programme for the period of USD 60 million will be co-financed by a parallel loan from the European Investment Bank ("EIB") for an equal amount.
The transaction is presented under the EBRD Green Cities Framework stemming from Chisinaus Green City Action Plan (GCAP) that was completed and approved by the City Council in May 2020.
Project Objectives
The objective is to support Premier Energy with its 2022-2025 investment programme focussed on the modernisation and upgrade of the electricity distribution grid. The programme aims to strengthen the network, increase energy efficiency, improve safety standards of the substations and modernise the telecommunication infrastructure.
Transition Impact
ETI score: 65
The Green Cities Framework 2 (GrCF2) represents a strategic and multi-project approach seeking to help identify and address environmental challenges in selected large cities in the EBRD Countries of Operations. The transaction will primarily help to promote the Green transition quality by addressing priority environmental challenges identified in Chisinaus GCAP. The transaction is expected to allow Premier Energy to improve robustness of the electricity grid in Chisinau and reduce losses which will lead to net CO2 savings. In addition, the transaction will support the Competitive quality as the focus of this investment is to upgrade the electricity distribution network and enhance the energy management (i.e. targeting performance improvement). |
