Wind Park in Mongolia reaches financial closing

Oyundelger 2017-09-06 07:09

Economy

Wind Park in Mongolia reaches financial closing for USD $120 million.

Wind Park in Mongolia reaches financial closing for USD $120 million. MPC Renewable Energies, a subsidiary of international investment manager MPC Capital AG has achieved financial closing for the Sainshand 55 MW onshore wind park in Mongolia, for USD $120 million. "This project is an important step that advances the implementation of our infrastructure strategy," said Dr. Roman Rocke, Management Board member of MPC Capital AG. "It demonstrates our group's capability to handle innovative projects and to close in challenging environments." The new Sainshand wind park is a key step for reducing carbon emissions and will make a large impact on the increasing demand for power in Mongolia. Construction will start shortly and is expected to be completed before the end of next year. Sainshand is an ideal site for onshore wind energy, according to three years of wind surveys that measured the high-yield winds in this particular area of the Gobi desert. The Sainshand onshore wind park will be the largest in Mongolia, with 25 turbines and a yearly output of approximately 200 GWh clean energy.

Mongolian hospital received aid equipment. Some needy surgical equipment and instruments aid was granted to the State Central Third Hospital in frames of a Global Grant #1754471 project being implemented by Rotary District 3080 in India and Rotary District 3450 in Hong Kong, Macau and Mongolia within cooperation between the Rotary Club in Mongolia with the Ministry of Health.