Office Address
123/A, Miranda City Likaoli Prikano, Dope
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+0989 7876 9865 9
+(090) 8765 86543 85
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info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The
Government of Mongolia has signed a landmark agreement with the International
Finance Corporation (IFC), a member of the World Bank Group, to harness private
sector capital and expertise for developing wind power in the country. This agreement marks a significant step
towards a cleaner and more sustainable energy future for Mongolia.
Under
the new agreement, IFC will serve as the lead transaction advisor to the
Ministry of Energy. Their role includes preparing comprehensive project due
diligence and developing a public-private partnership (PPP) for an initial wind
power project of approximately 100 MW…This new initiative aims to diversify
Mongolia's energy mix and significantly reduce its carbon footprint.
N.Tavinbekh,
State Secretary of the Ministry of Energy, emphasized the expected benefits of
the project: "By organizing a competitive auction for wind power, we
anticipate a range of positive outcomes: larger power generation capacity,
lower electricity tariffs, better access to clean and affordable energy, more
jobs, less water and coal usage, fewer greenhouse gas emissions, and a stable
energy supply for the wider population. It should be noted that this essential
project will help implement best practices from developed countries and
increase green energy production."
This project represents the first
competitively tendered PPP in Mongolia's renewable energy sector. It is expected to establish a
competitive electricity tariff, diversify the energy mix through increased
renewable energy generation, and provide a template for future wind Independent
Power Producers (IPPs) in the country.
Although Mongolia's current wind
power installation capacity is only 155 MW, the country has an estimated wind
potential of 209,000 MW—enough to power the entire nation. The new wind project aims to tap
into this vast potential, reducing carbon emissions by displacing coal-based
power generation and increasing the availability of renewable energy.
The new wind power project is
expected to not only provide environmental benefits but also enhance energy
security and economic growth in Mongolia, making it a pivotal development in
the country's pursuit of sustainable energy solutions.
