A special purpose company set up in 2022, HPI Wind was selected to receive support for the fundraising process under the USAID-funded Moldova Energy Security Activity (MESA), the company announced. In the past year, HPI Wind has developed a 200MW portfolio of top-notch wind energy projects across the nation, 105MW of which have already attained grid exclusivity. With this pipeline in place, HPI Wind’s full focus now is on securing funding to further develop the projects and bring them to commercial operation.
In April 2022 hooracán energy and Ion Potlog formed HPI Wind, a Moldova renewables platform, with the sole purpose of bringing Moldova a big step closer to energy independence through pioneering utility-scale wind power generation in the country. “Today, as we look forward to the next development chapter on the path to achieving the ready-to-build status of our wind projects portfolio by the end of 2024, we are glad to have USAID-funded Moldova Energy Security Activity supporting our fundraising efforts”, said Alex Gospodinov, Director for HPI Wind. Chief of the Party for USAID Moldova Energy Security Activity (MESA), Armen Arzumanyan, welcomed the ambition of HPI Wind to bring industrial-scale wind power generation to the country. “MESA is glad to support initiatives that aim to diversify Moldova’s energy sources, achieve sustainable economic development, and contribute to the protection of the environment in the Republic of Moldova”, said Mr. Arzumanyan during the agreement signing ceremony.
The investment firm CrossBoundary will provide transaction advisory support to HPI Wind on its fundraising journey under the USAID Moldova Energy Security Activity. “Given HPI’s traction, sectoral expertise, and appreciation of local constraints, we believe it is uniquely positioned to play an important role in the energy transition in the region and bring large-scale wind power generation to Moldova”, said Kirtika Challa, Managing Director, Global Head of Power and Infrastructure Advisory at CrossBoundary.
Moldova Energy Security Activity (MESA) is a 4-year project being implemented by Tetra Tech, through which USAID will invest at least USD 59 million in the consolidation and diversification of the country’s energy sector, thus increasing long-term energy security and strengthening the sovereignty of the Republic of Moldova.