Early works for construction of “Sainshand” wind park due to start in April
Essen, 17 March 2015 – Ferrostaal Industrial Projects GmbH,
Germany, project developer and majority shareholder of the wind farm “Sainshand” in Mongolia, has set the stage for the construction of the wind park beginning with early works due to start in April. With an annual output of around 190 GWh, Sainshand will be the largest wind farm in Mongolia. The wind park is intended to be connected to the grid by the end of 2016.
Ferrostaal Industrial Projects has signed both a bankable Power Purchase Agreement with the state-owned energy supplier, the National Power Transmission Grid Company (NPTG) as well as EPC term sheets for the construction of the wind park. The oneyear wind measurements have also been completed with great results of wind speeds over 7.4 m/s confirming the outstanding conditions for wind energy in Mongolia.
The anticipated investment volume for “Sainshand” wind park is approximately 115 million US dollars. The investment will be project financed by leading international development banks. The financial close of the project arranged by Ferrostaal Capital GmbH is expected within the next months.
As project developer, Ferrostaal Industrial Projects acquired the majority share in the wind farm project in February 2014. The major progress in the development of the wind park “Sainshand” has been reached in conjunction with Mongolian partners and Ferrostaal Mongolia.
Further information at: www.ferrostaal-ip.com