Germany-based Ferrostaal Industrial Projects is taking a majority stake in the 52MW Sainshand wind farm in Mongolia.
The project will be the largest wind facility in the country and total investment investment will be some $120m.
Local developer Sainshand Wind Park LLC already has a power purchase agreement and all licences in place, the company said. Grid connection is expected as early as end-2015.
“As project developers, our skills in the areas of project management, financing, engineering and contracting are in high demand. In this regard we have already joined forces with asset management experts from Ferrostaal Capital and initiated talks with international investors,” said Ferrostaal Industrial Projects mabaging director Klaus Lesker.
Image: Mongolia’s first commercial wind farm was the 50MW Salkhit (EBRD)