Moldova approves 2050 energy strategy with investment of 43 bln euros

CHISINAU. Sept 30 (Interfax) - The Moldovan government has approved an energy strategy for 2026-2050 which envisages investments of 43 billion euros and integration into the European energy market, the government's press service said.

"The goals set for 2050 include reducing the share of imported energy from more than 77% to 40%; ensuring at least 85% of local electricity production from renewable sources; increasing the share of electricity in final energy consumption from 12% to 65%, and reducing energy intensity from 0.298 to 0.061 tonnes of oil equivalent per 1,000 euros," the press service said.

Among the key goals, the energy strategy envisages ensuring the security of the energy supply, a presence in competitive markets integrated into the single European market, improving energy efficiency, decarbonization and a transition to renewable energy sources, fair access to affordable energy, digitalization, and stimulating research and innovation.

"The focus is structural transformation, not simply the implementation of sectoral reforms. Full implementation involves mobilizing investments of more than 43 billion euros, which will bring tangible benefits both to the sector and to the country's economy," the press service said.

The strategy was approved by the government "after a complex procedure for obtaining an environmental conclusion, which included consultations with competent local authorities as well as authorities in Romania and Ukraine, in accordance with the provisions of the Espoo Convention on Environmental Impact Assessment in a Transboundary Context," the press service said.