The European Investment Bank has confirmed its commitment to invest 45 million EUR to support the construction of the 54MW Sainshand onshore wind farm in Dornogovi Province.
The bank will be helping to meet the total project cost, estimated at 95 million EUR.
The development partners are planning to deploy Vestas hardware at the project in Dornogovi Province.
A wind measurement campaign ongoing since 2006 found average speeds of 7.7 meters per second.
The company behind the project is Sainshand Salkhin Park LLC, a special purpose limited liability entity owned by French energy major Engie, the IFU, Germany-based Ferrostaal GmbH and a local partner.
The end-result of the project will be a large onshore wind farm with 25 wind turbines on government-owned land to the southeast of Sainshand City. The developers have already secured a power purchase agreement and obtained all needed licenses, Ferrostaal says. Once operational, the wind farm is expected to generate about 190,000 MWh of electricity per year.