Mongolia’s largest solar project gets EBRD backing

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Credit: EBRD

The European Bank for Reconstruction and Development (EBRD) together with Triodos Investment Management and FMO are providing a US$31.6 million syndicated loan to Desert Solar Power One (DSPO) to build the largest solar plant in Mongolia, standing at 30MW.

EBRD was the original seed investor in the first ever renewable energy project in the country, the Salkhit wind farm, and has financed a total of three wind farms. This will be its first utility-scale PV project to get financing in Mongolia, claimed the bank.

The syndicated financing package will consist of an EBRD A loan of US$10.5 million, a B loan from impact investor Triodos Investment Management and FMO Dutch Development Bank, which will provide US$10.5 million each.

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