Tsetsii 50MW Wind Farm project by Clean Energy Asia LLC has received “Asia Pacific Wind Deal of the Year Award” by IJGlobal on 09 March 2017.
IJGlobal, part of Euromoney Institutional Investor PLC, is the leading online database of infrastructure and project finance transactions and its prestigious IJGlobal Awards celebrates the outstanding transactions and institutions from the world of infrastructure finance.
Clean Energy Asia LLC, the Project Company, is aiming to start operation of 50 MW wind farm in December 2017 and the award-winning project raised project finance of US $128 million through debt and equity finance.
The second wind farm in Mongolia is financed by the Japan International Cooperation Agency (JICA), as a JICA’s first overseas investment and loan project in renewable energy sector, and the European Bank for Reconstruction and Development (EBRD) through debt financing arrangements. Whereas, Clean Energy Asia LLC is owned by Newcom LLC, a Mongolian conglomerate with activities in telecommunications, property and energy and SB Energy Corp.., a subsidiary of SoftBank Group Corp, the telecommunications and technology conglomerate in Japan.
In 2015, the Parliament of Mongolia set the country’s mid-to-long term targets in the energy sector and its plan for 2015-2030. According to which, Mongolia aims to increase the share of renewable energy generation in its annual energy production to 20% by 2020 and 30% by 2030. The project will contribute to the national power policy goals.
As result of implementation of the project, it is estimated that approximately 230,000 tons of greenhouse gas emissions will be displaced and 180,000 tons of coal and 1.2 million tons of water will be saved. In addition, production of electricity at the wind farm will overall help reduce the amount of imported electricity. Located in southern Mongolia, the Project will contribute further benefits in facilitating infrastructure development for railway, road and electrical infrastructure at local and national levels.
More details can be found from the below: