The solar project, located in Altai, is being developed with the financial support of the Asian Development Bank (ADB).
Up to 150 GW of PV and wind projects could be postponed or canceled throughout the Asia-Pacific region by 2024 if the coronavirus-triggered recession continues beyond the current year, according to new research by Wood Mackenzie.
The 5 MW Uliastai solar-plus-storage project will be located in the city of the same name in the western part of the country, around 1,100km from Ulaanbaatar. The facility is part of a plan to deploy 40 MW of solar and wind generation linked to energy storage in the nation’s western and Altai-Uliastai regions.
The Asian Development Bank (ADB) and Leading Asia’s Private Infrastructure Fund (LEAP) have agreed to provide an $18.7 million loan to support the development of a 15 MW solar project in Mongolia.
A 10 MW solar facility in the Sumber Soum area of Mongolia’s southern Govisümber province has been connected to the grid. The project was financed by the Green Climate Fund and XacBank and takes Mongolia’s installed PV capacity to 35 MW. The pipeline of approved solar schemes has surpassed 700 MW.
The European Bank for Reconstruction and Development (EBRD) and investment partners will provide a $30.7 million syndicated loan to finance a 30 MW power plant, which EBRD says will be the first large-scale solar installation built in Mongolia.
The two projects will be funded by the World Bank and the Scaling-Up Renewable Energy Program under the Strategic Climate Fund
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