Tuesday 8 May 2018

Mongolia’s largest solar plant lent €31.6m

A solar plant expected to be the largest in Mongolia has receiving financing totalling €31.6 million (£27.7m).

The European Investment Bank for Reconstruction and Development (EBRD), together with Triodos Investment Management and the Netherlands Development Finance Company (FMO) are providing the loan to Desert Solar Power One for the project.

The financing will support the construction and operation of the 30MW plant – the first utility-scale solar project in the country – located 450km to the south east of Ulaanbaatar in the Gobi Desert.

It will support the nation’s goal of generating 20% of its power form renewable sources by 2020 and 30% by 2030.