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After Wednesday’s parliament assembly, the minister of the sector introduced that the Tavan Tolgoi Thermal Energy Plant, which can be constructed primarily based on the Tavan Tolgoi coal deposit, can be divided into two phases, 300+150 MW, and the primary stage can be 300 MW. The Minister of Vitality was assigned to barter and supervise the implementation of the venture by receiving functions of all kinds of monetary strategies for venture financing, cooperation with banking and monetary establishments, joint building and financing of the venture (EPC+F), number of monetary proposals with open circumstances that don’t restrict the financing choices of the bidder, and to signal contracts with the financiers.
The board of administrators of Erdenes Tavan Tolgoi was instructed to finance 30 p.c of the EPC+F contract for the 300 MBt section I of the venture, be accountable for the working prices of the Tavantolgoi Thermal Energy Plant LLC, pay the remainder of mortgage and curiosity price funds taken from the Growth Financial institution, and to cowl these prices by Erdenes Tavan Tolgoi JSC and the state.
On this regard, Minister of Vitality B.Choijilsuren stated, “On the assembly, the federal government’s decision on the measures to be taken within the course of intensifying the Tavan Tolgoi Thermal Energy Plant (TPS) venture was authorised. 4 choices had been made within the decision. There’s a technical and financial foundation for constructing Tavan Tolgoi TPS with a capability of three*150 MW. It was determined to construct a 300 MW energy supply within the first section, and put the third block of 150 MW into operation when the consumption stabilizes. Second, the tender for the plant can be introduced on a turnkey foundation plus financing mannequin (EPC+F). In line with preliminary estimates, about 600 million USD can be required to construct a useful resource with a capability of 300 MW. Of it, 70 p.c can be financed by the successful firm, and the remaining 30 p.c, or about 180 million USD, can be financed by Erdenes Tavan Tolgoi firm over the interval of three years. It’s estimated that the plant can be put into operation inside three years after signing the contract. Technical and financial calculations have been made to pay the financing of the venture inside 5 years from the commissioning of the plant. The plant will provide 1.3 billion kWh of power per 12 months to the Oyu Tolgoi firm at 9.6 to 11 cents per unit. Sooner or later, when the third block is constructed, it is going to be attainable to totally provide the power wanted for the operation of the Oyu Tolgoi venture from inside.
The related Minister stated, whereas replying to journalists, “The operation of Egiin Gol Water Plant is having difficulties. Russia opposed constructing it and made a grievance to UNESCO. They invited me to the financial discussion board that may happen in June in Saint Petersburg. A request was despatched to Russia to debate this matter peacefully within the upcoming discussion board. We hope we’ll attain a particular choice then. Vitality consumption within the central area of our nation is rising by 4.8 to six.4 p.c yearly. It’s true that there’s a lack of power sources. The power trade gave their all to beat the winter season of 2022 and 2023.
We’re planning to get by way of subsequent winter. Within the first section, an 80 MW cost collector can be put into operation on the “Songino” substation. It can’t be dominated out that there can be a necessity to import power from inside Mongolia in 1-2 years. Vitality system specialists of inside mongolia have agreed to come back to Mongolia subsequent month and examine technical prospects collectively. In any case, the height load of the winter of 2023 and 2024 can be overcome by the power sector.”
As a reminder, within the 2014 report of the Growth Financial institution, it was talked about that 14.8 million USD had been allotted for the operational prices of the Tavan Tolgoi energy plant venture unit, in addition to analysis and improvement work and advisor charges, in accordance with the approval of the federal government to supply 50 million USD by way of the financial institution. The venture unit chosen buyers in 2014, began elevating the required funds to implement the venture the next 12 months, and plans to place the ability plant into operation in 2017. As well as, a decade in the past, in July 2013, the federal government issued a decision to accentuate the Tavan Tolgoi energy plant venture.
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