The Republic of Moldova has a vast potential for renewable energy - one of the largest in the region, being ready to play an important role in addressing energy challenges both nationally and internationally. Whether it is the untapped potential, the investment climate or the opportunities offered, the Republic of Moldova has advantages in the field of renewable energy. There are various reasons why our country is a favorable destination for investments in the RES sector.
The wind energy potential in the Republic of Moldova
The 2017 International Renewable Energy Agency (IRENA) report, Cost-competitive renewable energy's production: Southeast Europe Potential, stated that wind power could supply up to 21 Gigawatts (GW ) energy capacity, much of which can be used at normalized electricity cost (LCOE) below 90 EUR / MWh - the maximum level at which the report considers that potential to be competitive in terms of costs.
The potential of wind energy in the Republic of Moldova. The 2017 report of the International Renewable Energy Agency (IRENA),Producing Electricity from Cost-Competitive Renewable Sources: Potential in Southeast Europe, found that wind power could supply up to 21 Gigawatts (GW ). ) energy capacity, most of which can be used at normalized cost of electricity (LCOE) below EUR 90 / MWh - the maximum level at which the report on potentially competitive compliance in terms of costs.
In the context of global efforts to migrate to a green economy, based on renewable energy, minding regional and national development directions and strategies, the Republic of Moldova has taken the responsibility to address the climate change phenomenon through various measures, including:
- reducing consumption by increasing energy efficiency;
- use renewable energy sources to replace traditional sources of pollutants.
Renewable energy capacity share devided by sources: wind energy has the highest share of about 58% (35.6 MW), followed by hydro 26% (16.3 MW), biogas 9% (5.7 MW) and Solar energy PV about 7% (4 MW).
The Renewable Energy Sector’s technical potential for electricity generation in the Republic of Moldova is estimated at 65,029 GWh, equivalent to 5,591 ktoe.
In 2016, 26.8% of the energy consumed in the Republic of Moldova was "green", this amount being almost entirely oriented towards heating and cooling households, while renewable energy sources covered only 2% of the country's electricity consumption.