Sainshand Wind (EBRD-47397)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Specific Location
Sainshand city, in the Gobi region of Mongolia
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 24, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Sainshand Salkhin Park LLC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 120.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 31, 2017

Disclosed by Bank Mar 27, 2017


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Project Description
The project involves a senior loan of up to USD 30 million to Sainshand Salkhin Park LLC (the "Company") to support the development, construction and operation of the Sainshand Wind Farm (the "Project"), a 55MW wind power plant to be located approximately 460km to the south east of Ulaanbaatar (UB) in the Gobi desert. The Project is located in the Dornogobi aimag (province), on the convergence of the territories of three different soums (districts): Sainshand, Urgun and Altanshiree. The land for the Project is government owned and has been leased by the Sainshand Salkhin Park LLC (the Project Company) for 30 years. The Sainshand Wind Farm will be the third wind energy project developed in Mongolia, following the Salkhit Wind Farm and the Tsetsii Wind Farm projects, which EBRD financed in 2012 and 2016 . The operation will contribute to reducing Mongolia's carbon intensity as well as meeting its increasing power demand. In addition, the project will also strengthen the private sector presence in the energy sector in the country and contribute to reaching the national renewable energy targets.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Sainshand Salkhin Park LLC is a special purpose limited liability company incorporated in Mongolia to be owned by Engie, the IFU, Ferrostaal Industrial Projects as well as a local partner.
Contact Information
ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.