EBRD to loan for 50MW Tsetsii Wind farm

Odonchimeg 2016-06-14 03:06

Economy

The European Bank for Reconstruction and Development is in the final phases of considering a senior secured loan of up to $25 million to help fund the development, construction and operation of the 50MW Tsetsii Wind Farm in Mongolia.

The European Bank for Reconstruction and Development is in the final phases of considering a senior secured loan of up to $25 million to help fund the development, construction and operation of the 50MW Tsetsii Wind Farm in Mongolia. 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. The Project will assist Mongolia in diversifying its coal-dependent power sector and reducing CO2 emissions by up to 230, 000 tons per year. In addition, the project will also strengthen the private sector presence in the Mongolian power generation sector. The Tsetsii Wind Farm project is expected to benefit from a USD 746,125 grant to be provided by the Government of Japan through the "Japan-EBRD Cooperation Fund". The grant would be used to support the state-owned National Transmission Power Grid company (NPTG) to upgrade the Tavan Tolgoi substation which will connect the Tsetsii Wind Farm to the Mongolian central grid.