The project will also help design and build the first large-scale PV project in Mongolia, a 10MW installation outside the Central Energy system. Image: Bernd Thaller / Flickr
The World Bank announced last week that its Board of Executive Directors approved the Second Energy Sector Project, which will help strengthen Mongolia’s electric grid and develop a 10MW installation within the country.
The project will contribute US$54.4 million in financing to help the Mongolian government upgrade its energy distribution services by retooling aging assets and expanding distribution capacity.
James Anderson, World Bank country manager for Mongolia, said: “More reliable access to electricity will improve the lives of families and help businesses thrive. The World Bank is committed to continuing our partnership with Mongolia to strengthen the power sector and explore options for renewable energy to help the country pursue sustainable development.”
The Second Energy Sector Project will finance investments to upgrade and expand the capacity of power distribution infrastructure in the Baganuur-Southeast and the Erdenet-Bulgan distribution network – which provides energy to nine of Mongolia’s 21 provinces.
The project will also help design and build the first large-scale PV project in Mongolia, a 10MW installation outside the Central Energy system. The plant will supply affordable and clean energy to the country’s western region, which currently imports 70% of its power supply.
Peter Johansen, senior energy specialist of the World Bank, said: “We are encouraged by the government’s target to increase the share of renewables to 30% by 2030. With its abundant solar and wind power resources, the country is now considering to more effectively and efficiently incentivize renewable energy investment to fully use its potential.”
The Second Energy Sector Project will be funded by a US$42 million loan on concessional terms from the World Bank’s International Development Association and a US$12.4 million grant from the Scaling-Up Renewable Energy Program under the Strategic Climate Fund.
In response to the most aggressive decarbonization of transport targets, Scotland is your next unrealised opportunity. On the 10th & 11th of September, Government & Local Representatives; Fleet Owners & Transport Authorities; Property Developers & Car Park Operators; eCommerce; Retail & Hospitality and Investors will meet at Everything EV Live in Edinburgh, to build partnerships, close deals and shape the future of Scotland’s transport de-carbonisation. Our two-day action-packed agenda is brimming with 30+ sessions led by experts, designed to provide you with the insights needed to decarbonise Scotland's transports.
As the Energy sector accelerates along its digital transformation journey, the industry is faced with how best to deploy technology in order to transform operations, drive efficiency, reduce cost and lessen environmental impact.With digitalisation affecting the entire value chain, EnTech will play a pivotal role in demystifying the technology disrupting the market and help organisations with investment in innovation.EnTech features a case-study led agenda providing expert market insight and an unrivalled networking opportunity to discuss the latest innovation and implement the right technology roadmap.