Mongolia’s renewable energy sector attracts foreign interest

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en_montastudio@montsame.mn
2015-09-10 18:02:10

European Investment bank and investors from Egypt, Denmark and Finland have expressed their interest to participate in implementation of 52 megawatt wind farm project “Sainshand” planned for a remote city in Mongolia’s Gobi Desert. They are interested in what duties will be taken over by the Mongolian government.
“According to the updated law of Mongolia on renewable energy, price ceiling and price tariffs must be set in connection with the payback period of a given investment or project.
Thanks to that, favourable conditions will be created for both foreign and domestic investors to invest in the renewable energy sector”.
The $120 million Sainshand Wind Farm Project is scheduled to go online in May 2016.
Last year Mongolia opened its first wind farm, a 50 megawatt facility at Salkhit, located about 70 kilometers south of the nation’s capital, Ulaanbaatar. The wind farm produces 168.5 mln kilowatt of electrical energy equivalent to the power use of 100,000 households.
In the year of 2000, The National Renewable Energy Laboratory of the USA developed a wind and solar energy resource map according which Mongolia has 13 terawatt of renewable energy reserves. Mongolia’s Gobi Desert has considerable potential for renewable energy is well placed to export energy to North East Asian countries.
Mongolia anticipates that by 2020, a fifth of its energy will come from wind power.
 

 

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