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EBRD offers US$ 68.1 million to construct new transmission line in south-eastern Mongolia -
Funds to make sure larger grid reliability, assist renewable technology -
Financing backed by €8 million EU grant
The European Financial institution for Reconstruction and Improvement (EBRD) is bettering the flexibleness and reliability of {the electrical} grid in Mongolia and rising its capability to soak up vitality produced by renewable sources.
An EBRD sovereign mortgage of as much as US$ 62.8 million and capital grant of as much as €5 million will assist construct and fee a 220-kilometre double-circuit 220kV transmission line between the cities of Sainshand and Choir. They may also fund a brand new 220/110/35 kV substation in Sainshand and improve the capability of an identical substation in Choir. The undertaking can be being supported by the European Union (EU) Asia and Pacific Funding Facility, which is predicted to supply a capital grant of as much as €8 million.
The undertaking will contribute to the decarbonisation of Mongolia, the place fossil fuel-based energy technology stays dominant. As soon as up and operating, the transmission line will assist minimize annual CO2 emissions by 140,000 tonnes by lowering electrical energy transmission losses and rising the absorption of renewable vitality.
Throughout the context of the undertaking, Mongolia will develop a brand new coaching programme that may allow younger ladies and men to achieve electrical engineering expertise, boosting their employment alternatives.
Thus far, the EBRD has invested nearly €2.2 billion in Mongolia’s economic system by means of 126 tasks.
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