EBRD considers financing Tsetsii wind farm in Mongolia

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EBRD considers financing Tsetsii wind farm in Mongolia

The EBRD is considering providing a senior loan of up to US$25 million to Clean Energy Asia LLC to support the development, construction and operation of the Tsetsii Wind Farm, a 50MW wind power plant to be located 542 km south from Mongolia's capital Ulaanbaatar in the Gobi desert.

The total project investment is estimated at US$120 million. Clean Energy Asia LLC is 51 percent owned by Ulaanbaatar-based Newcom and 49 percent by Japan’s SB Energy.

The operation will be the second wind energy project developed in Mongolia and 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 energy sector 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.

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