Energy reforms and investment plans presented to Fitch experts during country rating review

The reforms and investment prospects in Moldova's energy sector were presented to Fitch Ratings experts during a working meeting held in Chisinau, in the context of the country rating review.

According to the Ministry of Energy, the meeting was attended by State Secretaries Carolina Novac and Cristina Pereteatcu, who presented developments in the sector, the risk management framework, the structural reforms implemented in recent years, and investment prospects, particularly in renewable energy.

“The country rating is a key indicator of Moldova's economic credibility and our ability to attract strategic investments. In the energy sector, where we are developing major projects in renewable energy, storage and energy efficiency, including energy performance contracts, a strong rating reduces financing costs and sends a clear signal of stability and predictability to investors. For us, strengthening the rating is not just a macroeconomic goal, but a condition for accelerating the energy transition and increasing the competitiveness of the economy,” said Carolina Novac.

Officials presented priority investments in electricity infrastructure, including interconnection projects with Romania and the development of high-voltage power lines. They highlighted the risk preparedness framework, strengthened through the annual approval, starting in 2022, of the winter preparedness plan and the application of the Regulation on emergency situations in the electricity sector, in line with Regulation (EU) 2019/941 on risk preparedness.

Ministry representatives stressed that, in recent winters, there have been no major disruptions in energy supply, and the outage on 31 January was remedied within a short time.

The discussions also covered progress in aligning the legal framework of energy markets with European standards. According to the authorities, as of 1 April 2026 all large natural gas consumers will be required to purchase gas on the free market, and in 2025 the Republic of Moldova transposed the Electricity Integration Package and launched organized wholesale electricity markets, including day-ahead and intraday segments.

An important step for the independence of the gas infrastructure was the 4 August 2025 decision of ANRE to withdraw Moldovagaz’s natural gas supply license and transfer the supply activity to the state-owned company Energocom.

The authorities also presented the investment outlook for the coming period. Between 19 February and 31 March 2026, bids will be accepted for the second tender on the development of wind farms with a capacity of 170 MW, including the integration of energy storage systems. At the same time, small-scale renewable investments at residential level are being supported, along with Waste-to-Energy projects, biogas production and the exploration of small modular nuclear technologies.

In the same context, the activity of the National Center for Sustainable Energy was presented, focused on the energy modernization of the housing stock and the implementation of energy efficiency projects in public buildings, including through dedicated financial mechanisms and energy performance contracts.

The discussions also addressed the digitalization of the energy sector, as well as the opportunities offered by the Sandbox, the first controlled testing space for innovations in the field.

Fitch Ratings is one of the three major credit rating agencies, alongside Moody’s and Standard & Poor’s. A stable credit rating is essential for a country’s economic environment, as it influences investor confidence, access to financing and overall economic stability.