The State Secretary of the Ministry of Energy, Carolina Novac, recently participated in three important international discussion panels, focusing on energy transition, climate change and sustainable solutions for energy development not only in the Republic of Moldova, but also in the entire region. The events took place on the sidelines of the UN Climate Change Conference (COP29), which is taking place in Baku.

 

During the first panel, entitled “European Investment Bank (EIB): Bridging the financing gap to address the urgent challenges of climate change adaptation”, Carolina Novac addressed the impact of climate change on the Republic of Moldova and national measures to adapt to these challenges. The State Secretary noted the ecological vulnerabilities that our country faces, but also presented national projects for climate change adaptation in the energy sector. Among these are “Energy Efficiency in the Republic of Moldova” or the Fund for Energy Efficiency in the Residential Sector of Moldova (FEERM), which were mentioned as successful examples, developed with the support of international partners.

 

“In the face of the climate crisis, every investment and every energy efficiency project counts. The Republic of Moldova responsibly assumes the national targets for reducing carbon emissions and promoting renewable energy sources, but this is not possible without the active involvement of the private sector and the continuous support of international partners. Our collaboration with the EIB and other actors is essential to ensure a sustainable future for our country,” said Carolina Novac during the discussions.

 

During the second panel, entitled “Roadmap to Net Zero: Building Sustainable Energy Systems”, Carolina Novac spoke about the impact of the energy crisis on the Republic of Moldova, which led to a significant increase in energy prices. However, the crisis has also been a catalyst for the development of renewable energy in the country, the Secretary of State pointed out, for example, in the last three years, the installed capacity of renewable energy has increased significantly, with Moldova now having a capacity of over 418 MW of renewable energy, compared to only 119 MW in 2021. In addition, support for renewable energy projects, including through subsidy schemes and financial facilities, has been essential for this transition.

 

During the third panel, entitled “World Bank Panel: Increasing Investment in Energy Efficiency and Renewable Energy Sources in Europe and Central Asia”, Carolina Novac spoke about the success of the Republic of Moldova in promoting renewable energy sources and the role of development partners, including the World Bank, in supporting the energy transition. A prominent example is the project “Sustainable Energy Efficiency Transition in Moldova (STEEM)”, which aims to improve energy efficiency in 46 educational institutions in the country.

 

“The STEEM project is a clear example of how investments in energy efficiency can bring major benefits, both in saving financial resources in the long term and in reducing carbon emissions. These projects were also made possible thanks to the constant support of development partners and represent concrete and visible steps on the path to a green and sustainable economy,” emphasized Carolina Novac.

 

Another important point discussed was the launch, by the World Bank, of a knowledge exchange platform between states, which will facilitate collaboration between countries in Europe and Central Asia in the field of energy transition.

 

The active participation of the Republic of Moldova in these discussions underlines the country’s commitment to climate challenges and towards a sustainable energy transition, supported by innovative policies and solid partnerships.