ADB approves 40-mln-USD loan to develop renewable energy in Mongolia

Source: Xinhua| 2018-09-22 17:17:06|Editor: Yamei
Video PlayerClose

ULAN BATOR, Sept. 22 (Xinhua) -- The Asian Development Bank (ADB) has approved a loan of 40 million U.S. dollars to develop a 41-megawatt renewable energy system in western Mongolia.

The energy project will develop a 40.5-megawatt distributed renewable energy system to supply power and heating in the remote and less-developed part of the country, and a 500 kilowatt thermal heat pump system to provide heating in public buildings, the ADB said in a press release on Friday.

"A clean, reliable, and sustainable energy sector is needed to boost economic growth in western Mongolia while addressing the need to reduce carbon and air pollutant emissions," said Shigeru Yamamura, ADB Principal Energy Specialist for East Asia.

The project will connect at least 285,313 local people to clean and reliable electricity and provide a heat supply, as well as help the country meet obligations under the Paris Climate Agreement to reduce carbon emissions by 14 percent by 2030, he said.

The project is expected to be completed by 2023.