Newcom Salkhit Wind Farm

active

Clean Energy LLC was created in order to build, own and operate a 50 MW wind farm to be located in Ulaanbaatar, Mongolia. the project company was a joint venture between the European Bank for Reconstruction and Development (EBRD) 25%, and the Mongolian firm the Newcom Group. Details from public sources on the Power Purchase Agreement were not available, but various sources did state that the project would sell power to the Mongolian grid through a 26 year PPA. In November 2011, GE was selected as the equipment supplier. Leighton Asia was an EPC contractor. Commissioning was expected for April 2013. Total project cost was estimated at USD 120 million. The EBRD invested USD 5 million in SPV Clean Energy LLC. Total debt was US$ 84 million with 15 year tenor, provided in equal portions by EBRD and FMO (US$ 42 million each). Legal advsiser to the lender was Norton Rose, and GTS. Legal adviser to the sponsor was DLA Piper. http://www.ebrd.com/english/pages/project/psd/2012/38344.shtml http://www.genewscenter.com/Press-Releases/GE-Taps-Growth-in-Mongolia-by-Powering-Nation-s-First-Wind-Farm-Project-34f4.aspx