AKIPRESS.COM - Clean Energy Asia LLC together with its shareholders, Newcom LLC and SB Energy Corp., signed today with the Japan International Cooperation Agency and the European Bank for Reconstruction and Development financing agreements to construct a 50MW wind farm in southern Mongolia.

The wind farm will help supply Mongolia's power demand with clean, eco-efficient electricity by harnessing Mongolia's vast and inexhaustible wind resources. The project will help contribute to sustainable economic development and the mitigation of climate change. Clean Energy Asia will aim to launch operations in December 2017.

Mongolia has a power-supply capacity of 1130MW, consisting of 88% coal, 6% diesel, 6% renewable energy, and 2% hydropower sources. While being the world’s eighth country most susceptible to climate change, electricity supply-demand balance along with its economic growth is an urgent issue for Mongolia; accordingly, Mongolia is a country that particularly requires safe and secure power sources such as renewable energy. The State Great Khural approved a national power policy in 2015 that sets Mongolia’s mid-to-long term target and plan for 2015-2030 in the energy sector. The policy aims to increase the power generation share of renewable energy to 20% by 2020 and to 30% by 2030, and it stipulates the promotion of investment in the energy industry in cooperation with international financial institutions and donor countries, utilizing the abundant wind and solar resources in the Gobi region. Mongolia is the first country to sign a memorandum with Japan on the Joint Crediting Mechanism (JCM) to reduce greenhouse gas emissions.

In these circumstances, this Tsogttsetsii wind farm project will help contribute to the increased adoption of renewable energy in Mongolia.