Finance
Mongolia, EBRD partner to advance renewable energy
Published by Global Banking and Finance Review
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
Mongolia partners with EBRD to develop solar and wind energy projects, aiming for 500 MW capacity by 2028.
(Reuters) - Mongolia is partnering with the European Bank for Reconstruction and Development (EBRD) to advance renewable energy development in the country.
Under the collaboration agreement signed during the World Economic Forum in Davos on Tuesday, the EBRD will help implement solar, wind, and energy storage projects through auctions.
Key initiatives under the deal include construction and commencement of up to 300 megawatt (MW) of solar power plants and 200 MW of wind power plants with energy storage, including transmission infrastructure, by 2028.
The EBRD will also assist Mongolia in developing renewable energy strategies and low-carbon pathways.
"This partnership with the EBRD underscores our commitment to transforming Mongolia's energy sector into one that is sustainable, competitive, and aligned with global climate goals," Deputy Prime Minister Dorjkhand Togmid said in a statement.
In 2024, the EBRD invested over 260 million euros ($270 million) in 28 projects in the Mongolia, with the majority being in green transition financing.
($1 = 0.9622 euros)
(Reporting by Tanay Dhumal and Mrinalika Roy in Bengaluru)
The main topic is Mongolia's partnership with the EBRD to advance renewable energy projects, including solar and wind power.
What are the goals of the partnership? The goal is to construct up to 300 MW of solar and 200 MW of wind power plants by 2028.
How much has the EBRD invested in Mongolia? In 2024, the EBRD invested over 260 million euros in Mongolia's green transition.
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