US providing $85 mln to Moldova for energy storage

The investment is part of a $300 million support package by the U.S. Agency for International Development’s (USAID) aimed at tackling energy issues resulting from Russia's war on Ukraine and the attacks on the Ukrainian energy grid, the Moldovan government said in a press release on Thursday.

"Continued US assistance will support the authorities in Chisinau in continuing reform efforts. We will help the Republic of Moldova build a democratic, prosperous and sovereign future," U.S. Secretary of State Antony Blinken said.

The investment will facilitate the installation of equipment that will strengthen Moldova’s national energy grid and facilitate increased electricity trade with Romania, Ukraine and the European market. The BESS and additional equipment will help manage energy reserves and demand fluctuations while integrating renewable energy.

Since 1992, the US has assisted Moldova with over $2.5 billion. Since the outbreak of Russia’s war against Ukraine, a total of $774 million was disbursed as financial assistance, with $300 million focused on energy security. A total of $80 million was used to offset gas and electricity bills for low-income citizens, while $135 million was earmarked for boosting domestic electricity generation and building a 400kV line linking Moldova to Romania's grid and aiding European energy integration.

($=0.9244 euro)