Saudi Firm Explores Major Renewable Energy Project in Mongolia
Mongolia’s Sun Steppe Power and Saudi Arabia’s ACWA Power are exploring a 4.5-gigawatt renewable energy project to export electricity to China and other markets.
Saudi energy company ACWA Power has signed a memorandum of cooperation with Mongolia’s Sun Steppe Power to explore developing large-scale renewable energy projects in Mongolia for cross-border electricity exports to China and other mutually agreed markets.
The agreement was signed on the sidelines of the 25th WPC Energy Congress in Riyadh, Saudi Arabia, in the presence of Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz and ACWA Chairman Mohammad Abunayyan.
Under the memorandum, the two companies will assess opportunities to develop solar and wind power facilities, supported by a utility-scale battery energy storage system. The proposed project targets a generation capacity of 4.5 gigawatts, with a 500-megawatt-hour battery storage system.
The cooperation will also examine the transmission and export infrastructure needed to deliver electricity to neighboring markets.
If realized, the project could help Mongolia expand its renewable energy sector, attract foreign investment and strengthen its potential as a regional electricity exporter. However, the initiative remains at the assessment stage, with further studies needed to determine its feasibility and implementation.
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