Moldova as a Clean-Energy Partner for Ukraine’s Recovery

Editorial Note: This article is written by Michael Druckman, managing partner of Trident Forward, as part of Moldova Matter’s new series “The Next Economy: Moldova 2030.” We’ve asked experts, business leaders and economists from a variety of backgrounds to share their vision for how Moldova can develop a stronger economic future. Most articles will focus on one big idea towards this end.

Russia’s full-scale invasion has relentlessly targeted Ukraine’s energy infrastructure. What is often treated as a purely Ukrainian challenge however, actually presents a wider regional opportunity. Moldova, a country that has been moving to modernize its own energy sector and integrate with European systems, is well positioned to become a clean-energy partner for Ukraine’s recovery and a new platform for investors seeking exposure to Ukraine’s broader reconstruction but wary of the continued war-risk on the ground.

A sustainable energy recovery in Ukraine depends on the creation of a modern, decarbonized energy system capable of meeting new industrial needs, supporting municipal services and providing the reliability required. This task becomes even more urgent given the scale of destruction Russia has inflicted on Ukraine’s power generation and grid infrastructure. According to the Kyiv School of Economics, the energy sector has suffered more than US$56 billion in damage and losses, with at least US$50 billion in immediate reconstruction needs. A large portion of this reflects the catastrophic damage to thermal generation capacity and high-voltage transmission lines. Any long-term reconstruction strategy requires diversification, decentralization and integration with European power networks.

Against this background Moldova enters the picture. Over the last three years, Moldova has undergone one of the fastest energy-sector transformations in Europe. The synchronization of Moldova and Ukraine’s grid with the Continental European system in March 2022 was a pivotal moment enabling the country to operate independently of the old Soviet-era IPS/UPS network and opening the door to cross-border electricity trade. This has laid the technical foundation for deeper integration into regional markets. However, Moldova’s reform momentum did not stop there. In 2025, the government held its first major renewable-energy auction, awarding roughly 165 megawatts of wind and solar capacity and mobilizing close to €190 million in investment. The auction results signaled that global energy developers are prepared to invest in Moldovan renewables when regulatory clarity and grid access are assured. For foreign investors, this provides the region with a predictable offtake along with alignment with European market rules and opportunities ...