JICA, EBRD to finance 50 MW wind farm in Mongolia
Clean Energy Asia LLC together with its shareholders, Newcom LLC and SB Energy Corp., has signed with the Japan International Cooperation Agency (JICA) and the European Bank for Reconstruction and Development (EBRD) financing agreements to construct a 50MW Tsetsii wind farm in southern Mongolia.
Clean Energy Asia LLC, is 51% owned by Newcom LLC, a Mongolian conglomerate with activities in telecommunications, property and energy. The remaining 49% is owned by a subsidiary of SB Energy Corp.
Tsetsii Wind Farm project consists of a 50 MW wind power plant located 542 km south from Mongolia's capital Ulaanbaatar in the Gobi desert. The project, which will include 25 Vestas V110-2.0 MW wind turbines, has a total investment estimated at US$120 million.
This project will contribute to reducing Mongolia's carbon intensity as well as meeting its increasing power demand. In addition, the project will also strengthen the private sector presence in the energysector in the country.
The Project will result in a new private entrant in the Mongolian power generation sector; and will assist Mongolia in diversifying its coal-dependent power sector and reducing CO2 emissions by up to 230, 000 tons per year.
