Interesting Bloomberg article:
The world’s most sparsely populated nation has the potential to generate 2.6 million megawatts of wind, solar, geothermal and hydropower, based on data collected by the U.S. National Renewable Energy Laboratory and the Mongolian National Renewable Energy Center.
That's a fantastic figure. It's seven times the capacity of all the world's operable nuclear reactors combined, according to world nuclear association data. In contrast, Mongolia’s current power capacity is less than that of one large coal plant, just 878 megawatts.
That’s what Newcom Group’s acting Chief Executive Office Byambasaikhan Bayanjargal recently told investors in Hong Kong. Of that, close to 40 percent of the potential is in wind, and Bayanjargal is eager to harness it.
Newcom, a cross-industry investment group that owns part of Mongolia’s biggest mobile phone network, is investing in a renewable future. The group has six wind-power plant projects that are due to bring 1,000 megawatts online in the country by 2020. In the U.S., that would be enough to power about 800,000 homes. In Mongolia's economy, it would stretch much further.
Winds blow on average at least 25 feet a second in parts of the Gobi desert, which also ranks third globally in terms of solar generation potential. Newcom and its partners expect to commission a 50-megawatt wind park next year. This plant will be Mongolia’s first independent power producer and the first private investment in the industry.
I notice they will exporting the electricity to China. I did not know this was in the works but it is definitely pretty cool and adds to more impetus to the economy.