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The Asian Development Bank (ADB) has approved a loan worth $100 million to support the installation of a 125 MW advanced battery energy storage system
in Mongolia.
The total cost of the project is expected to be $149.
5 million
.
Of this amount, $3 million was financed by the ADB High Technology Fund
provided by the Government of Japan.
ADB said on Friday that the Mongolian government would provide another $11.
95 million
for the project.
Once operational, the battery system will be able to deliver 44 GWh of peak power
per year.
It will also support the integration of an additional 859 GWh of renewable energy into the grid, resulting in an annual reduction of 842,039 tonnes of carbon dioxide (CO2) emissions
by 2025.
According to the plan, the project will be completed
in September 2024.
According to ADB, Mongolia's renewable energy potential is currently underutilized
.
In 2018, the country's share of coal-fired cogeneration reached 93%
of total electricity generation.
Mongolia plans to increase the share of renewables in its total installed capacity to 20% by 2023 and 30%
by 2030 by 2030.
The Asian Development Bank (ADB) has approved a loan worth $100 million to support the installation of a 125 MW advanced battery energy storage system
in Mongolia.
The total cost of the project is expected to be $149.
5 million
.
Of this amount, $3 million was financed by the ADB High Technology Fund
provided by the Government of Japan.
ADB said on Friday that the Mongolian government would provide another $11.
95 million
for the project.
Once operational, the battery system will be able to deliver 44 GWh of peak power
per year.
It will also support the integration of an additional 859 GWh of renewable energy into the grid, resulting in an annual reduction of 842,039 tonnes of carbon dioxide (CO2) emissions
by 2025.
According to the plan, the project will be completed
in September 2024.
According to ADB, Mongolia's renewable energy potential is currently underutilized
.
In 2018, the country's share of coal-fired cogeneration reached 93%
of total electricity generation.
Mongolia plans to increase the share of renewables in its total installed capacity to 20% by 2023 and 30%
by 2030 by 2030.
