EBRD backs Tsetsii wind farm

2016-09-29 17:19:52

Ulaanbaatar /MONTSAME/ The European Bank for Reconstruction & Development (EBRD) and the Japan International Cooperation Agency (JICA) have signed financing agreements with Clean Energy Asia to fund the 50MW Tsetsii wind farm in southern Mongolia.

Clean Energy Asia is 51% owned by Newcom, a Mongolian conglomerate with activities in telecommunications, property and energy, with the remaining 49% owned by a subsidiary of SB Energy Corp.

Clean Energy Asia said it aims to launch operations at the wind farm in December 2017.

The deal is the first dollar-denominated project finance debt transaction by JICA through its private sector investment finance scheme in renewable energy.

It is Newcom and EBRD's second renewable energy project in Mongolia following the 50MW Salkhit wind farm, which started operations in 2013, reports renews.biz.