Balti District Heating Project

A sovereign loan of up to €7 million to the Government of Moldova. The proceeds of the loan will be used to finance a Priority Investment Programme to modernise and upgrade the district heating services in the municipality of Balti. The investment is expected to reduce coal and gas consumption, reduce CO2 emissions, help CET-Nord JSC (the Company) maintain its customer base and ensure sustainability of its services. The Programme is expected to result in significant energy efficiency improvements and water savings as a result of customer controlled heat supply, improved efficiency of generation capacity, electricity co-generation and reduced losses in the distribution network. The Project is expected to have a positive impact on Moldova’s energy security and balance of trade. It will also be the first project expected to make use of the Eastern Europe Energy Efficiency and Environmental Partnership (E5P) facility.