ULAN BATOR, Nov 1 (NNN-APA) – The Asian Development Bank (ADB), said yesterday that, it has been engaged by the Mongolian government, to provide transaction advisory services for the Stable Solar Energy in Mongolia Project.
In a statement, the ADB said, it aims to develop about 115 megawatts of solar photovoltaic capacity and 65 megawatts/237 megawatt-hours of battery energy storage systems (BESS), across the country’s Western and Eastern Energy Systems.
This will be one of Mongolia’s largest renewable energy procurements and the country’s first solar and BESS auction. The project is designed to enhance grid reliability, reduce dependence on fossil fuels and imported electricity, and deliver clean, affordable energy to remote regions, it added.
“ADB is proud to support Mongolia in advancing its clean energy transition through innovative renewable energy and storage solutions,” said ADB Country Director for Mongolia, Shannon Cowlin. “This project will help strengthen energy security, enable greater integration of renewables, and lay the foundation for larger investments in solar and BESS in the years ahead,” she noted.
It is expected that the project will improve the stability of two isolated grid systems, by using battery storage for peak shifting, frequency regulation, and grid balancing, enabling more solar power to be integrated into the network. It will be tendered through a transparent, competitive process to attract private sector investment and support Mongolia’s renewable energy and climate goals.
This initiative is a collaboration between ADB and the Ministry of Energy of Mongolia. It supports Mongolia’s State Policy on Energy (2015-2030), New Recovery Policy, and the government’s long-term strategies for carbon reduction and energy security.– NNN-APA
