Mongolian Energy Market

Miwa Sikeki, head of strategic planning at Japan’s Soft Bank, Cho Hwan-ik, president of Korea Electric Power Corporation and Enkhbold, CEO of Newcom are taking photos after signing an MOU in Ulaanbaatar, Mongolia on July 18 (local time).
Miwa Sikeki, head of strategic planning at Japan’s Soft Bank, Cho Hwan-ik, president of Korea Electric Power Corporation and Enkhbold, CEO of Newcom are taking photos after signing an MOU in Ulaanbaatar, Mongolia on July 18 (local time).

 

Korea Electric Power Corporation (KEPCO) gained a foothold to the Mongolian energy market.

KEPCO announced that they signed an MOU on cooperation on the development of new and renewable energy such as trilateral wind power with Newcom, a Mongolian energy company and Japan’s Soft Bank in Ulaanbaatar, Mongolia on July 18 (local time). The Korean utility giant also signed an MOU on transmission facility improvement and business cooperation with NPTG which transmits power in Mongolia.

Mongolia has high potential in the renewable energy sector as it has rich wind and solar resources as well as mineral resources. The nation has a low electricity penetration rate in rural areas but its transmission and distribution losses are high. This fact compels Mongolia to share experience with KEPCO and to want technical cooperation with the company.

This trilateral MOU calls for the development of joint projects and the establishment of a cooperative foundation for investment in the new and renewable energy sector including solar and wind power generation. First of all, they will conduct a feasibility study for the promotion of a 30MW solar power generation project.

On top of that, KEPCO plans to carry out joint research on the Mongolian power grid and long-term capital investment plan in the field of high-voltage power and to push forward with joint projects based on its power facility management know-how and new electricity technologies with NPTG

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