ULAANBAATAR, MONGOLIA – 21 March, 2012 – Newcom Group and its partners - the European Bank for Reconstruction and Development (EBRD), and the Netherlands Development Finance Company (FMO) have today signed the financing agreements for the much anticipated Salkhit Wind Farm Project. The 50MW wind farm, the first for Mongolia, marks a new page in the renewable energy sector development of the country. Operations are due to commence in November 2012.
“EBRD and FMO have been relentless in developing this project together with Newcom. The Salkhit wind farm is a flagship project for Mongolia’s renewable energy. It marks the dawn for Mongolia’s aspiration to become Asia’s renewable energy champion,” – says Bayanjargal Byambasaikhan, chief executive of Newcom Group.
Nandita Parshad, EBRD's director for power and energy who signed the agreements for EBRD noted that "Mongolia is rich with renewable energy resources. Wind power generation is a clean, safe and proven technology across the world. We hope this transaction paves the way for increased private interest in the renewable power sector which can reduce Mongolia’s dependence on coal and its carbon footprint and will contribute to Mongolia’s sustainable development."
Located 70 kilometers south east of the capital city Ulaanbaatar, the Salkhit Wind Farm is a landmark project that is a result of close cooperation between the international development institutions – EBRD, FMO and the Millennium Challenge Account (MCA), the Government of Mongolia, and the private sector. The wind farm will be powered by GE 1.6MW turbines. It will cut CO2 emissions by 200 thousand tons, save 2 million tons of fresh water, and reduce coal usage by 160 thousand tons annually. The clean power generated by this 50MW wind farm will service customers connected to the Mongolian central grid.
Newcom is a Mongolian clean technology and infrastructure investor committed to connecting people and bridging distances. Newcom partners with global technology leaders to bring global expertise and innovation to Mongolia. The Newcom Group today employs 2,200 people and has a diverse portfolio of investments across telecommunications, information technology, airline, financial services, energy, real estate and mining services.
Newcom introduced cell phones to Mongolia in 1996 by investing and establishing Mobicom, the country’s premier mobile telecom operator. Newcom launched Eznis Airways in 2006. Eznis today is Mongolia’s leading private airliner flying passengers to all domestic destinations and a few cities in neighboring China and Russia.
For more information, please visit www.newcom.mn
Clean Energy LLC
8-9F, Naiman Zovkhis Building, 21 Seoul Street, Ulaanbaatar 14251, Mongolia
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