World Bank approves US$54.4 million project to develop first large-scale PV plant in Mongolia

June 18, 2017
Facebook
Twitter
LinkedIn
Reddit
Email
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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

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.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 29, 2025
The European Bank for Reconstruction and Development (EBRD) has provided US$142 million in financing for the construction of a 1GW solar and 1.3GWh BESS portfolio in Uzbekistan.
October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
Premium
October 28, 2025
BESS are 'the new player that everyone is talking about,' in Europe’s power purchase agreement (PPA) space, according to LevelTen.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 23, 2025
The average price of a solar PPA signed in Europe in Q3 2025 fell below €35/MWh, reaching €34.25/MWh, according to LevelTen Energy.
October 23, 2025
Infrastructure investment firm Nuveen Infrastructure has secured US$171 million in financing for a 137MW solar PV plant in South Korea.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany