Mongolia vows to promote wind energy development

Mongolia will further improve its investment environment of the energy sector and encourage private enterprises to invest in this field, Energy Minister D. Zorigt said Tuesday.

Speaking at an international conference titled "Mongolian Power 2012," the minister said the Mongolian government will make greater efforts to push forward development of the country’s wind power and coal resources.

Lawmaker Ts. Tsengel outlined several measures to promote healthy development of the energy sector by solving the constraints existing in the energy sector.

In order to resolve the accumulated arrears between coal mines and energy companies, he said, measures have to be taken to improve financial-economic capability of fuel and energy companies, such as giving subsidy to these companies out of the state budget.

The two-day conference, organized by the Ministry of Mineral Resources and Energy, drew representatives from over 90 international financial institutions and companies, including the Asian Development Bank, the United Nations Development Programme.

The meeting focuses on such subjects as the development of the Mongolian sustainable energy and the investment and technology development prospects of the sector.

Mongolia boasts rich wind and solar power resources and the country plans to make the renewable energy output account for 20 to 25 percent of its total energy production by 2020.