EBRD mulls backing 55-MW wind project in Mongolia

The European Bank for Reconstruction and Development (EBRD) is considering lending up to USD 30 million (EUR 28m) for the construction of the 55-MW Sainshand wind park in Mongolia’s Gobi desert.

The project is developed by Sainshand Salkhin Park LLC, a special purpose limited liability company owned by French energy major Engie (EPA:ENGI), the IFU, Ferrostaal Industrial Projects and a local partner. The total project cost is estimated at USD 120 million.

The project envisages erecting 25 wind turbines on government-owned land to the southeast of Sainshand city, in the Gobi region of Mongolia.

The EBRD said that this project will help Mongolia diversify its coal-dependent power sector and cut carbon dioxide (CO2) emissions by up to 5 million tonnes over its lifetime. It will also see a new private entrant in the local power sector, where assets are almost entirely state-owned.

The bank backed the Salkhit and Tsetsii wind projects in Mongolia in 2012 and 2016, respectively.

(USD 1.0 = EUR 0.921)

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