Mongolia will implement a wind power station project and export electricity to China in the future.

Editor's note: Paris, Reuters, July 12, 2016 - French state-controlled utility company Électricité de France (EDF) has acquired an 80% majority stake in China-funded wind farm developer UPC Asia Wind Management Limited, thereby entering the increasingly growing Chinese renewable energy market. UPC Asia Wind mainly develops and builds wind power projects.

EDF did not disclose the value of the transaction. The acquisition was completed by EDF's renewable energy subsidiary, EDF Energies Nouvelles.

EDF said that its partners, UPC China and the American investment fund - Global Environmental Fund (GEF), will still remain as shareholders of UPC Asia Wind with a 20% stake.

Currently, UPC's headquarters is located in Hong Kong.

Mongolian News Agency, Ulaanbaatar, May 1st - The National Energy Reform Committee of Mongolia signed a Memorandum of Understanding with one of the world's leading renewable energy companies, UPC Renewables, on April 29th in New York.

The company will implement a wind power station construction project with a total installed capacity of 2,400 megawatts in the Gobi Province, which will help effectively utilize Mongolia's renewable energy resources, export clean energy produced to regional markets including China, enhance domestic energy security, and reduce carbon emissions in our country.

Vice Premier of Mongolia and Chairman of the National Energy Reform Committee, Togtokhan Davaajants, emphasized that "Mongolia has taken a step forward in fully utilizing the huge potential of renewable energy. We are committed to increasing clean energy exports, making corresponding contributions to green development in this region, and creating new economic opportunities."

Andrew John Sutherland, Chief Executive Officer of UPC Renewables' Asia-Pacific region, stated that "This cooperation will create favorable conditions for exporting wind energy from the Gobi Province to China, improving the reliability of Mongolia's central energy system, and providing competitively priced clean energy. We are committed to attracting international investment to Mongolia and contributing to sustainable industrial development."

Original article: https://www.toutiao.com/article/1830890953686080/

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