ADB lends USD 18.7m for solar project in Mongolia

The Asian Development Bank (ADB) and the Leading Asia’s Private Infrastructure Fund (LEAP) are extending an USD-18.7-million (EUR 16.5m) loan for a 15-MW solar plant in Mongolia.

The funds will go to Thai renewable energy producer Sermsang Power Corporation PCL (BKK:SSP) and Tenuun Gerel Construction LLC (TGC) for the construction, operation and maintenance of the Sermsang Khushig Khundii Solar Project in the Khushig valley, Tuv aimag. The solar plant is expected to generate 22.3 GWh of electricity annually, feeding it into the Central Energy System.

The ADB-administered Canadian Climate Fund for the Private Sector in Asia provided a technical assistance grant to offset first mover costs, the announcement says.

TGC is owned by SSP in Thailand, Sharp Energy Solutions Corp (SESJ) in Japan and AMOE Solar LLC and SH Energy Solution LLC in Mongolia.

(USD 1.0 = EUR 0.880)

Choose your newsletter by Renewables Now. Join for free!