GE estimated the cost of the Salkhit Wind Farm at $100 million but didn’t put a value on the wind turbines themselves. The Fairfield, Conn., conglomerate described the deal as its "entry to Mongolia" and "a strategic move."
The statement said the wind energy project, due to open in 2012 about 70 kilometers (about 40 miles) southeast of the capital, would supply electricity equal to about 5% of Mongolia’s current installed electric-power generating capacity.
"This is a milestone in the development of GE’s relationship with Mongolia and our teaming with Newcom," GE Vice Chairman John Rice was quoted as saying in the statement. Energy demand in Mongolia is increasing by 8-10% a year.