The 55 MW Sainshand wind farm, located in the Gobi Desert in Mongolia, has successfully entered commercial operation.
The wind park, which is comprised of 25 Vestas V110 2.2 MW wind turbines, is capable of generating approximately 200 GWh of electricity per year, enough to power around 100,000 households. The project leads to a potential reduction of more than 200 thousand tons of CO2 emissions annually.
The facility is sponsored by ENGIE, Ferrostaal, Danish Climate Investment Fund (DCIF) and Mongolian entrepreneur, Radnaabazar Davaanyam, with long-term financing provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
Mott MacDonald acted as the lenders' technical advisor. The first tranche is guaranteed by EKF, with NORD/LB acting as agent.
Country updates
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February 02, 2019
ADB supports first Distributed Renewable Energy System in Mongolia
The Asian Development Bank’s (ADB) Board of Directors has approved a US$40 million loan to develop a 41 megawatt (MW) distributed renewable energy system—a first-of-its-kind in Mongolia us...
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January 28, 2019
GCF and XacBank finance large-scale solar project
XacBank has become Mongolia’s first private bank to fund the completion of a large-scale, solar plant in a financing partnership with the Green Climate Fund (GCF). The 10MWh solar photovoltaic (...
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September 17, 2018
Sharp completes construction of 16.5 MW solar plant in Mongolia
Sharp Energy Solutions Corporation (SESJ), wholly-owned subsidiary of Sharp Corporation, has announced that it has completed construction of a utility-scale solar power plant in Zamyn Uud, D...
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May 10, 2018
EBRD to finance largest solar project in Mongolia
United Green Group (UGG) and Tucher Group GmbH have secured a US$31.6 million syndicated loan from the European Bank for Reconstruction and Development (EBRD), Triodos Investment Management and FMO fo...
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December 22, 2017
EBRD is going to back financially the project
EBRD is going to back financially the project. 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...
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