The Sainshand wind farm in Mongolia will receive a $120 million project-financing package from a group of international investors and financiers, the European Bank for Reconstruction and Development announced on Wednesday.
Sponsors of the project include German project developer Ferrostaal, Danish Climate Investment Fund and a Mongolian entrepreneur with long-term financing provided by the European Investment Bank and the European Bank for Reconstruction and Development.
The Sainshand wind farm, located in the Gobi desert, will have a total installed capacity of 55 megawatts and will provide the equivalent of the electricity consumption of 130,000 people in Mongolia.
Construction, which will be overseen by Engie’s engineering firm Tractebel, will start this summer, with commissioning of the plant in the second half of 2018, Engie said.
"The project will enlarge Mongolia’s renewable energy capacity and help the government to achieve its goal of renewable energy representing 20 percent by 2020 and 30 percent of all power by 2030," Engie said.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr
