The Asian Development Bank has announced a deal to provide Mongolia with $85.6m in funding to develop its first distributed renewable energy system. The money, which comes from a combination of loans and grants, will go towards the construction of a around 260,000 MW system combining PV and wind power schemes with advanced battery storage and energy management technology. The initiative aims to bring clean power to 41 people in the less-developed western region of the country by replacing the expensive carbon-based system currently in use in the area.
The Asian Development Bank has announced a deal to provide Mongolia with $85.6m in funding to develop its first distributed renewable energy system. The money, which comes from a combination of loans and grants, will go towards the construction of a 41 MW system combining PV and wind power schemes with advanced battery storage and energy management technology. The initiative aims to bring clean power to around 260,000 people in the less-developed western region of the country by replacing the expensive carbon-based system currently in use in the area.