|By PR Newswire||
|February 19, 2014 04:47 AM EST||
ESSEN, Germany, February 19, 2014 /PRNewswire/ --
Ferrostaal Industrial Projects GmbH, a project developer facilitating worldwide investments, is taking a majority stake in the 'Sainshand' wind farm project in Mongolia. With 190 GWh of electricity every year, 'Sainshand' will be the largest wind park in Mongolia. The investment in the project amounts to approximately 120 million US dollars and is intended to connect to the grid as early as the end of 2015.
Wind energy: Mongolia offers attractive investment possibilities
The 'Sainshand' wind farm project is already well developed − the power purchase agreement and all licences are in place. By taking a majority stake in the project, Ferrostaal Industrial Projects is now creating a bridge between the local developers, Sainshand Wind Park LLC, and investors worldwide. "As project developers, our skills in the areas of project management, financing, engineering and contracting are in high demand. In this regard we have already joined forces with asset management experts from Ferrostaal Capital GmbH and initiated talks with international investors", explains Dr. Klaus Lesker, Managing Director of Ferrostaal Industrial Projects GmbH.
Clean energy for Mongolia
The country is investing heavily in the expansion of its electricity supply grid and is specifically encouraging renewable energy. According to the 'Wind Energy Development Roadmap for Mongolia', wind energy is to become one of the most important energy resources in Mongolia by 2020, when it will cover about a fifth of the country's energy needs. The outstanding wind conditions which prevail in Mongolia, with wind speeds of between 7.5 and 8.5 metres per second on average, are ideal for wind energy.
Further information at: http://www.ferrostaal.com
Ferrostaal is a technology-independent, multi-vendor and supplier-independent provider of industrial services with operations worldwide. As a project developer, the company is active in the areas of petrochemicals, wind power and oil & gas. As a service and sales partner to international manufacturers, the company deals in machinery and equipment for recycling, packaging, rail transport, laboratory technology and printing, as well as with pipes and piping accessories. In the automotive field, Ferrostaal develops tailor-made processes and operates entire module assemblies for international automobile manufacturers and suppliers. Some 4,200 employees combine decades of industrial expertise with financing competence on behalf of the customers. Ferrostaal has own companies in around 40 countries.
SOURCE Ferrostaal GmbH