CLEAN ENERGY LLC
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Clean Energy LLC is a renewable energy company focused on developing Mongolia's first private sector wind farm. Newcom, one of the largest holding companies in Mongolia, is the sponsor behind the project and holds a variety of investments across various sectors.
What is our funding objective?
Equity from the Infrastructure Development Fund will be used to develop and construct the project, which will have the capacity of 49.6 MW and will produce 168 GWh of wind energy per year. The project will also entail the construction of 34 km of access roads and a 28km 110kV transmission line located southeast of Mongolia's capital, Ulaanbaatar.
Why do we fund this investment?
In Mongolia, energy generation is almost entirely based on coal, which leads to high carbon intensity. Furthermore, the country cannot generate sufficient electricity to sustain itself and therefore depends on imports for approximately 170MW during peak hours. FMO supports a sustainable energy agenda and Clean Energy LLC in its ambition to be a landmark transaction for Mongolia by becoming the country's first Independent Power Producer (IPP), its first utility scale wind park and first renewable energy project to be connected to the central grid.
More investments
| Date | Total FMO financing |
|---|---|
| 10/5/2021 | USD 2.65 MLN |
| 12/29/2020 | USD 5.11 MLN |
- Region
- Asia
- Country
- Mongolia
- Sector
- Energy
- Effective date
- 3/21/2012
- Total FMO financing
- USD 21.60 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+