On May 11, GGGI and the Energy Regulatory Commission of Mongolia (ERC) commenced the preparation of bankable energy efficiency projects, beginning with 15 selected “Designated Entities” whose consumption of heat and, or electricity exceed the threshold set by government for conservation potential.
GGGI is assisting the ERC in the preparation of bankable energy efficiency pipeline projects, beginning with selected 15 “Designated Entities”. During the project kick-off meeting, Mr. Tleikhan Almalik, Director – General of the ERC, highlighted the potential benefits of energy audit, bankable energy efficiency project development for private and public entities.
“International cooperation with GGGI on energy audit and preparation of the first batch of energy efficiency pilot projects will accelerate Mongolia’s implementation of energy saving measures, while supporting public and private entities to adopt international best practices to disseminate locally”, stated Mr. Almalik. “It is a great opportunity provided by GGGI to ERC and selected Designated Entities to learn and adopt international best practices of energy audit and implementation, therefore would like to call out active participation and collaboration among the all participating partners.”
Under energy efficiency pilot project development, GGGI together with Pricewaterhouse Coopers, will support the ERC and selected Designated Entities over the next 3 months through technical and advisory services across the key areas, including:
- Estimate the market per sector;
- Perform a gap analysis of Mongolia’s policy, regulatory, and financial framework;
- Develop a pipeline of pilot energy efficiency projects (15 projects in different sub-sectors); and
- Capacity development activities of local energy auditors.
During the meeting, all 15 selected Designated Entities from public and private sectors signed a “cooperation agreement” with ERC to develop and implement energy efficiency measures in their operation and activities.
On March 20, 2017, the GGGI and the ERC signed a Memorandum of Understanding on green growth cooperation. The ERC is cooperating with GGGI in implementing Mongolia’s Energy Conservation Law and unlocking green growth opportunities through targeted energy savings.
Since 2016, GGGI has been a leading partner in the formulation of a national platform for financing Mongolia’s INDC and green development ambitions, known as the Mongolia Green Credit Fund (MGCF) Initiative. This joint effort with Ministry of Environment and Tourism (MET), the Mongolian Bankers Association (MBA), Capital City of Ulaanbaatar, ERC and GGGI is part of a global GGGI program to provide financing solutions to green projects such as energy efficiency pipeline projects mentioned above.
Since Mongolia became a GGGI member country in July 2014, GGGI has provided technical assistance in the areas of public transportation assessment, energy systems analysis, and national green development planning. Building upon this work, GGGI and the Government of Mongolia initiated the Transition to Green Development Project (Phase 1: 2015-2016, Phase 2: 2017-2018), supporting the implementation of the country’s green development priorities and contribution to climate action – Particularly in the fields of renewable energy, energy efficiency, public building design, and climate finance.
Read the Mongolian language Press Release here.