The energy minister made the announcement following the Mongolian Renewable Energy 2012 International Conference held Friday.
The conference brought together over 100 specialists, company representatives, government and international organization officials, where they discussed the country’s renewable energy future.
At present, the country’s electricity consumption is growing between 8 to 10 percent annually. Mr. D. Zorigt aims to have renewable energy provide 20-25% of Mongolia’s energy needs by 2020.
“Mongolia is home to enormous renewable energy resources – wind energy, solar power, water, geothermal energy – and Mongolia’s ecological and climatic conditions are well befitting to the effective use of these resources,” he added.
B.Byambasaikhan, chief executive officer of Mongolian renewable energy company Newcom Group, said Mongolia boasts abundant wind energy and solar power resources, but the development of renewable energy industry faces difficulties in technology and investment fields.
The country’s wind energy potential could reach up to 2.55 trillion kilowatt-hours per year, according to research from The National Renewable Energy Centre of Mongolia.
Mongolia’s first wind farm, the currently under construction Salkhit Wind Farm, is being developed by Newcom and the United State’s General Electric Company. It will be providing clean energy for Ulan Bator, which is 70 kilometers away from the farm.