Energy Cooperation
The Korea Energy Agency (KEA) announced that it signed a memorandum of understanding (MOU) to cooperate in the energy efficiency and new renewable energy sector with the Mongolian Energy Development Center (EDC) in Ulaanbaatar, Mongolia on July 18.
“The agreement, as part of the Mongolia-South Korea Business Forum, was attended by some 200 people from the Korean economic mission, the Mongolian government and related companies, said the KEA, “Following the signing ceremony of the MOU, KEA president Byun Jong-rip and the head of EDC Yadamjav Purevjav shared their opinions on the current status of the energy efficiency and new renewable energy sector, as well as ways of cooperation.”
Through the agreement, the two institutions will interchange consultations so as to set up policies and systems for the Mongolian energy sector, and the information related to energy and climate change. In addition, they plan to develop promising projects of reducing greenhouse gases including a project of improving energy efficiency in electricity generation and industrial sectors.
According to the KEA, Mongolia is working out plans to push ahead with an energy efficiency enhancement project across all the sectors of the country, with the goal of resolving the shortages of electricity resulting from deterioration of the exiting power plants and rapid urban development.