Mongolia will soon have its first major wind farm, wind turbines from GE. The $100 million wind farm project is located 70 miles southeast of Ulan Bator, Mongolia, and will be open in 2012. Electricity demand will double in Mongolia over the next 15 years. The Salkhit wind farm, driven by 1.6 MW wind turbines will generate 5% of electricity from Mongolia.
The entry into Mongolia is a strategic move by General Electric (GE), which aims to tap the growing demand for renewable energy in the regions around the world including Asia, Africa and Latin America.
Electricity demand in Mongolia is expected to double over the next 15 years. The GE wind turbines in Salkhit wind farm will generate about 5 percent of electricity of Mongolia. GE’s participation in the Salkhit wind project includes the supply of equipment and technical assistance in the installation and commissioning of wind turbines for wind power generation.
GE was represented at the signing ceremony by John Rice, Vice President and CEO of GE Global Growth. He was joined by Byambasaikhan Bayanjargal, CEO of Newcom. “The demand for energy in Mongolia increasing from 8 to 10 percent a year,” said Byambasaikhan. “The wind farm Salkhit help cover the growing demand for Mongolia and facilitate the development of railway infrastructure, roads and electricity infrastructure.”
In 2005, the Parliament of Mongolia adopted the National Renewable Energy Program, which aims to increase the share of renewable energies from 20 to 25 percent in 2020. Mongolia has an installed capacity of approximately 800 megawatts (MW). “This is a milestone in developing relations with Mongolia GE and our teamwork with Newcom. We are introducing advanced technology that paves the way for renewable energy projects and underscores our commitment to grow in one of the most difficult” said Rice.
Mongolia is becoming one of the fastest growing economies in the world, with the highest growth in the world with 17.3 percent in the first half of 2011 on year, according to the World Bank. Energy demand will double by 2015.