Mongolia selects GDF Suez for $1.2B coal power project

A consortium led by GDF Suez has been selected by the Mongolian government to build a $1.2 billion coal-fired power plant in the country’s capital of Ulaanbaatar, reports Bloomberg.

Energy Minister Mishig Sonompil announced to reporters that GDF, Sojitz, Posco Energy, and Mongolia’s Newcom Group have signed a memorandum of understanding to build a new 450 MW combined heat and power plant. According to the article, the GDF Suez group beat a bid from a partnership that included Samsung C&T and Korea Southern Power.

The new coal-fueled plant will help meet growing energy demands in Ulaanbaatar, which has seen its population double over the last 15 years. The new facility is set for development 9 miles (15km) east of downtown Ulaanbaatar, with commissioning expected by 2017.