MPC Renewable Energies, a subsidiary of international investment manager MPC Capital AG, along with the project developer Ferrostaal, the Danish Climate Investment Fund (DCIF) and other project partners, has achieved financial close amounting to US$120 million for the 55 MW Sainshand wind park in Mongolia. The lenders have agreed to provide a total project financing of US$ 78.5 million, which consists of European Investment Bank (EIB) funding of US$ 47 million and the European Bank for Reconstruction and Development (EBRD) funding of US$ 31.5 million.
The Sainshand wind park is seen as a key step in reducing carbon emissions and will have a sizeable impact on the increasing demand for power in Mongolia. Construction will start shortly and is expected to be completed before the end of 2018. Sainshand is an ideal site for onshore wind energy, according to three years of wind surveys that measured the high-yield winds in this particular area of the Gobi desert. It will be the largest in Mongolia, with 25 turbines and a yearly output of approximately 200 GWh clean energy.
MPC Renewable Energies and MPC Industrial Projects form the Infrastructure unit of MPC Capital AG. Recent transactions include the 172 MW windpark project 'Âncora' in Portugal and the 50 MWp PV plant 'Paradise Park' in Jamaica.