Ferrostaal Industrial Projects GmbH, a project developer facilitating worldwide investments, is taking a majority stake in the Sainshand wind farm project in Mongolia.
With 190 GWh of electricity every year, Sainshand will be the largest wind park in Mongolia. The investment in the project amounts to about $120 million and is intended to connect to the grid as early as the end of 2015.
The Sainshand wind farm project has the power purchase agreement and all licenses in place.
The country is investing heavily in the expansion of its electricity supply grid and is specifically encouraging renewable energy. Mongolia sees wind speeds of between 7.5 and 8.5 metres per second on average.