In the south of Moldova, in Talmaza village, Ștefan Vodă district, an impressive photovoltaic park is rapidly growing, which will provide green electricity based on solar panels. The project is carried out by “Ostia Group” SRL, and its commissioning is planned for March 2023.
The park is located on an area of 2.3 ha and contains 2844 photovoltaic panels which will generate approximately 1.7 million kWh of electricity annually. At the same time, the implementation of the project will contribute to the reduction of greenhouse gas emissions by 842 tons of CO2 per year equivalent to the annual CO2 emissions of 150 households in Moldova.
The photovoltaic park is constructed with panels produced by Swiss Solar with a peak power of 500 W per panel. This technology is part of the EBRD’s Green Technology Selector, an online database of around 30,000 products that meet minimum performance requirements and generate environmental improvements.
The total value of the investment amounts to EUR 1.045 million, and to ensure its financing, “Ostia Group” SRL requested a GEFF loan in the amount of EUR 250,000.
The photovoltaic park has the status of an eligible electricity producer, confirmed by the National Agency for Energy Regulation of Moldova. Thus, once completed, the park will be connected to the grid, and the entire volume of available electricity produced will be sold on the market.
“The implementation of the project is in full swing. The supporting structures for the photovoltaic panels have already been set up and now we are starting to install the panels”, says Mihai Ciobanu, director of “Ostia Group” SRL.
Mihai Ciobanu has a previous experience in carrying out a photovoltaic project, but with a much lower capacity. “I was on a study visit in Estonia, and when I was returning to Moldova I talked with an entrepreneur from Georgia. She told me that what I had done was a very small project and talked about the benefits of large photovoltaic farms. That’s how I got the idea to build a photovoltaic park in the Republic of Moldova. I studied the opportunities available in our country and turned to GEFF”, Mihai Ciobanu also told.
GEFF experts analyzed the financial and technical parameters of the project and calculated the benefits that the company would obtain by generating electricity, including the investment payback period.
The EBRD’s GEFF program operates through a network of over 145 local financial institutions in 27 countries, supported by over €4.6 billion in EBRD financing, benefiting over 190,000 clients to date. These projects have led to annual reductions in CO2 emissions of over 8.6 million tons.
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