50-MW wind project planned Mongolia
50-MW wind project is planned Mongolia.
50-MW wind project is planned Mongolia. The construction will be financed by the Japan International Cooperation Agency (JICA) and the European Bank for Reconstruction and Development (EBRD). JICA and EBRD have signed financing agreements to support the construction of the 50-MW Tsetsii wind farm in southern Umnugobi province. The project developer, Clean Energy Asia LLC, announced the deals saying that the wind park is expected to commence operations in December next year. This is the first dollar-denominated project finance debt transaction by JICA in the renewable sector. Clean Energy Asia is 51%-controlled by Mongolian conglomerate Newcom LLC, while the remaining shares are held by Japan’s SB Energy Corp, a unit of SoftBank Group Corp. Newcom previously invested in the development of Mongolia’s first wind project -- the 50-MW Salkhit wind farm, which started power generation in 2013. All this is part of the national power policy which includes targets for a renewable share of 20% by 2020 and of 30% by 2030.
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