projectFP046
Renewable Energy Program #1 - Solar
306745
TONNES of CO2 Anticipated tonnes of CO2 equivalent avoided
Impact
Mitigation
GCF results area
- Energy generation and access
- #7 Affordable and clean energy
Location & People
Region
- Asia Pacific
Country
- Mongolia MN
Investment Data
- Financing:
- Public
- Public / Private
- Private
- Project size:
- Micro
- Small
- Medium
- Large
- E&S Risk category:
- Category I1
- Category I2
- Category I3
Total project investment
GCF Financing
- Instrument Loan USD
Co-Financing
- Project developers Equity USD
Project owners
Accredited Entity-
Access Modality: Direct (National)
- XacBank LLC Mongolia
Financing a 10MW solar photovoltaic (PV) power plant to support Mongolia’s renewable energy transition.
Mongolia is committed to supply 30% of the country’s energy through renewable energy by 2030, as part of its NDC targets. However renewable energy investments in the country are limited by barriers to finance including high interest rates, and prohibitively short tenors, which make renewable projects more expensive than coal-fired power plants. The project will enable the development, construction, commissioning and operation of a 10MW solar power plant, which will be the second large-scale solar PV in the country.
The project has an estimated lifespan of 10 years.
Mongolia is committed to supply 30% of the country’s energy through renewable energy by 2030, as part of its NDC targets. However renewable energy investments in the country are limited by barriers to finance including high interest rates, and prohibitively short tenors, which make renewable projects more expensive than coal-fired power plants. The project will enable the development, construction, commissioning and operation of a 10MW solar power plant, which will be the second large-scale solar PV in the country.
The project has an estimated lifespan of 10 years.
| Document title | Published date |
|---|---|
| Funding proposal | 06 Nov 2017 |
| ESS report | 13 Sep 2017 |
| Gender assessment | 31 Jan 2018 |
| Gender action plan | 31 Jan 2018 |
- XacBank LLC (XacBank) Tuul Galzagd Tel: +976 7577 1888 (ext.707) Anand Batsukh Tel: +976 7577 1888 (ext.703)