ADB supports Mongolian renewables

19 November 2018

The Asian Development Bank (ADB) has signed an agreement with the government of Mongolia to support the development of a 41 MW distributed renewable energy system.

The ADB has approved $40 million of funding for the project, including $14.6 million from the Strategic Climate Fund, $6.0 from the Japan Fund for the Joint Crediting Mechanism, and $5.6 million from the government of Mongolia. The agreements were signed by Minister of Finance Mr. Khurelbaatar Chimed and ADB Country Director for Mongolia Yolanda Fernandez Lommen at a ceremony in Ulaanbaatar.

“These projects will support the government’s efforts to raise the share of renewable energy, decrease carbon dioxide emissions, and improve public financial resource mobilization and management,” said Ms. Fernandez Lommen. “They are also closely aligned with ADB’s Country Partnership Strategy for Mongolia to foster inclusive growth, improve people’s access to services, and strengthen environmental sustainability.”

The renewable distributed energy system will be the first of its kind in Mongolia, combining solar photovoltaics with wind energy and battery storage technology. The project will result in the supply of clean and reliable electricity to about 260 000 people in remote and less-developed towns in western Mongolia, who currently rely on high-cost and high-polluting carbon-intensive electricity.

Linkedin Linkedin   
Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.