1 September 2017
The Sainshand 55 MW onshore windpark in Mongolia reaches financial closing for USD $120 million.
HAMBURG, Germany - 01 September 2017 - MPC Renewable Energies, a subsidiary of international investment manager MPC Capital AG, along with the project developer Ferrostaal, the Danish Climate Investment Fund (DCIF) and other project partners, has achieved financial closing for the Sainshand 55 MW onshore windpark in Mongolia, for USD $120 million. The lenders have agreed to provide a total project financing of US$ 78.5 million, which comprises the European Investment Bank (EIB) funding of US$ 47 million and the European Bank for Reconstruction and Development (EBRD) funding of US$ 31.5 million.
"This project is an important step that advances the implementation of our infrastructure strategy," said Dr. Roman Rocke, Management Board member of MPC Capital AG. "It demonstrates our group's capability to handle innovative projects and to close in challenging environments."
The new Sainshand windpark is a key step for reducing carbon emissions and will make a large impact on the increasing demand for power in Mongolia. Construction will start shortly and is expected to be completed before the end of next year. Sainshand is an ideal site for onshore wind energy, according to three years of wind surveys that measured the high-yield winds in this particular area of the Gobi desert. The Sainshand onshore windpark will be the largest in Mongolia, with 25 turbines and a yearly output of approximately 200 GWh clean energy.
MPC Renewable Energies GmbH along with MPC Industrial Projects GmbH form the Infrastructure Unit of MPC Capital AG. The division offers attractive investment opportunities in the infrastructure space, including renewable energies as well as conventional power, petrochemicals and other industrial assets. Recent transactions include the 172 MW windpark project 'Âncora' in Portugal and the 50 MWp PV plant 'Paradise Park' in Jamaica.
About MPC Capital AG
MPC Capital AG is an international asset and investment manager for real asset investments. Together with its subsidiaries, the company develops and manages real asset investments and investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 250 employees group-wide.