The Asian Development Bank has announced a deal to provide Mongolia with $ 250 million in funding to develop its first distributed renewable energy system . The funding , which comes from a combination of loans and grants , will go towards the development of a renewable MW system combining PV and wind power schemes with advanced battery storage and waste management technologies . 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 .
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.