KhanLex advised European Bank for Reconstruction and Development, on a USD 31.6 million syndicated loan facility to the largest solar plant in Mongolia operated by Desert Solar Panel LLC. Triodos Investment Management and FMO participated in the facility.
The syndicated loan of USD 31.6 million will support the construction and operation of 30 MW solar photovoltaic (PV) power plant located in city of Sainshand in southern Mongolia. The solar power plant will become the first utility-scale solar PV in the country and will generate electricity during the day, when the demand is higher than supply.
“We’re happy to assist our long-standing client, EBRD, in its continued support of renewable energy projects in the country ” said Enkhbat Batsukh, Partner, who led the KhanLex team on this deal.
Amendments to Banking Act of Mongolia seek to introduce important reforms to both the banking sector and the securities market
On January 29, 2021, the Parliament of Mongolia approved amendments to the 2010 Banking Act