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Mongolia partners with EBRD to boost renewable energy sector

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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…

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EBRD and Romania sign MoU for renewable energy projects

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The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding (MoU) with Romania to support renewable energy development in the country.  The MoU, signed by Romania’s Energy Minister Sebastian Burduja and EBRD Romania head Victoria Zinchuk, will assist in the design and implementation of the next round of renewable energy auctions. Romania plans to auction 3,500 MW of renewable energy capacities, with the first auction in September 2024 offering 1.5 GW…

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Azerbaijan awards first 100 MW solar project to Universal International

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Azerbaijan has concluded its first renewable energy auction, awarding a 100 MW solar project in the Garadagh region to Chinese company Universal International Holdings.  The company secured the contract with a winning bid of $0.0354 per kilowatt hour (kWh). The auction, opened in April 2024 by Azerbaijan’s Ministry of Energy, was supported by the European Bank for Reconstruction and Development (EBRD). The announcement coincided with the COP29 climate summit in Baku. Azerbaijan’s Minister of Energy,…