to-the-point: EBRD to back 30-MW solar project in Mongolia

The European Bank for Reconstruction and Development (EBRD) is to provide financing to Desert Solar Power One LLC for a 30-MW solar project in Mongolia.

The plan includes a limited recourse senior secured A/B loan of up to USD 30.7 million (EUR 26m) which is pending final review. The target board date is January 31, 2018.

The project company is owned by United Green Group and Tucher Group GmbH. Construction of the solar photovoltaic (PV) park near Sainshand city in Dornogobi Province is expected to start next year. Its total cost is USD 47.5 million.

The project’s Environmental Impact Assessment (EIA) has been okayed in 2013. It will support Mongolia’s 20% renewables target for 2020.

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