Project detail - CLEAN ENERGY LLC

CLEAN ENERGY LLC

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Who is our client

Clean Energy LLC is a renewable energy company focused on developing Mongolia's first private sector wind farm. Newcom, one of the largest holding companies in Mongolia, is the sponsor behind the project and holds a variety of investments across various sectors.

Funding objective

Equity from the Infrastructure Development Fund will be used to develop and construct the project, which will have the capacity of 49.6 MW and will produce 168 GWh of wind energy per year. The project will also entail the construction of 34 km of access roads and a 28km 110kV transmission line located southeast of Mongolia's capital, Ulaanbaatar.

Why we fund this project

In Mongolia, energy generation is almost entirely based on coal, which leads to high carbon intensity. Furthermore, the country cannot generate sufficient electricity to sustain itself and therefore depends on imports for approximately 170MW during peak hours. FMO supports a sustainable energy agenda and Clean Energy LLC in its ambition to be a landmark transaction for Mongolia by becoming the country's first Independent Power Producer (IPP), its first utility scale wind park and first renewable energy project to be connected to the central grid.

More investments

Date Total FMO financing
11/14/2018 USD 2.65 MLN
4/19/2012 USD 5.11 MLN
Region
Asia
Country
Mongolia
Sector
Energy
Signing date
3/21/2012
Total FMO financing
USD 21.60 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B+