GDF SUEZ signs MOU for the development of renewable energy projects in Mongolia
On the occasion of the visit to Mongolia by the French Minister of Foreign Affairs, Mr. Laurent Fabius, GDF SUEZ signed a Memorandum of Understanding (“MOU”) with Newcom, a leading Mongolian conglomerate, relating to the development of future renewable energy projects in the country. This MOU is in line with the Mongolian Government’s ambitions to capitalize on the potential to generate power from the country’s renewable energy resources and demonstrates GDF SUEZ’s recognized know-how and expertise in renewable projects.
In August, GDF SUEZ, together with its consortium1 partners, was confirmed preferred bidder for the combined heat and power plant CHP5 in Ulaanbaatar, the capital of Mongolia (capacity of 415 MW and a steam capacity of 587 MW) under a 25 year PPA with the Mongolian government.
Mongolia benefits from outstanding conditions for the development of renewable power projects with up to 250 sunny days per year and excellent wind potential. Newcom currently owns and operates the 50 MW Salkhit wind farm, the nation’s first wind development, and is considering further renewable energy projects in Mongolia.
In Asia, GDF SUEZ is primarily active in power generation (10,314 MW in operation and 375 MW projects under construction) and holds major positions in Thailand, Singapore and Indonesia.
The Asia Pacific region is a key development platform for all of GDF SUEZ activities: power, gas and energy services. The Group has set ambitious industrial objectives in the area:
- Accelerate development in new countries (India, Mongolia, the Philippines and Vietnam)
- Further develop LNG sales
1This consortium comprises GDF SUEZ (30%), Sojitz Corp (30%), POSCO ENERGY (30%) and Newcom LLC (10%).
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Euronext Vigeo Eurozone 120, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.