Mongolia has entered into a partnership with the European Bank for Reconstruction and Development (EBRD) to enhance the country’s renewable energy sector.
Announced at the World Economic Forum in Davos (January 2025), the EBRD will help Mongolia develop solar, wind, and energy storage projects through auctions.
The EBRD will offer technical support, including feasibility studies and environmental assessments for small and medium-sized hydroelectric plants, helping build a strong foundation for renewable energy in Mongolia.
The goal is to construct 300MW of solar and 200MW of wind power plants, along with energy storage and transmission infrastructure by 2028.
Mongolia is implementing major energy reforms to transition to a sustainable and competitive energy sector, in line with global climate goals. These efforts aim to improve sector transparency, liberalize the energy market, and promote renewable energy development.
The EBRD will also assist in creating strategies for renewable energy growth and carbon emissions reduction. In 2024, the EBRD invested over €260 million ($270 million) in 28 projects in Mongolia, with a focus on green transition initiatives.