SINOSURE grants a credit guarantee for the Telmen TPS

B.Chimeg GoGo.mn

2017-11-28 14:59 GMT+8

China Export and Credit Insurance Corporation (SINOSURE) has granted a credit guarantee to New Asia Group Mongolia for the construction of the Telem Thermal Power Station.

Chinese road and bridge construction company built 165 kilometers of road and 98 kilometers of asphalt paving in Khovd Province, from Darvi to Altai.

The road project was also guaranteed by SINOSURE. Many of Mongolian's large development projects are experiencing delays due to the Government of Mongolia's financing challenges.

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THE FIRST-EVER CONCESSION RIGHT TO PRIVATE SECTOR

Project Summary

New Asia Group LLC is developing the Telmen Coal-fired Power Plant Project (Telmen Power Plant Project) to construct a 100 MW (2x50 MW) coal-fired power plant in accordance with a BOT type Concession Agreement. 

On May 11, 2011, the company was awarded a BOT type concession for the Project by the State Property Committee, Mongolia in accordance with the Law on Concessions of Mongolia, adopted on January 28, 2010.

The Revised Concession Agreement was signed by and between the Economic Development Ministry and New Asia group on June 28, 2013.

The proposed power plant will be located in Huren tal in Telmen Soum, Zavkhan province in Western Mongolia.

The power plant construction license was issued in 2011 by the Energy Regulatory Authority of Mongolia and is held by the New Asia Group. Land Use Agreement was received in 2011.

Telmen Power Plant project Milestones

License and approval

 

Date

Status

Decision to grant a right on building 60MW power plant next to Mogoin gol coal mine

Ministry of Mineral Resources and Energy, Mongolia

2009

Construction Agreement for Mogoin gol Power Plant

Former government implementing agency Energy Authority of Mongolia

Dec 2009

Preliminary study

 

 

Government resolution No40,

GoM

Feb 2011

Government resolution No127

GoM

Apr 2011

 

Concession Agreement (BOT)

The State Property Committee and The Economic Development Ministry

May 2011   June 2013

Land use approval

Telmen county governor office

June 2011

Preliminary Feasibility Study  approval

Approved by the Science and Technological Council of energy sector

Apr 2011

Detailed Environmental Impact Assessment and EIA Approval

Approved by the Environmental Ministry

2011

Geotechnical study /Engineering geology and topo-geodesy /

 

2011

Hydro-geological  study

 

2011

Archaeological  study

Archaeological Institute

2011

Construction special permit

Ministry of Construction and Urban Development

Jan 2012

Telmen Power Plant Construction licenses 100MW

The Energy Regulatory Authority

2012

Water use approval

 

2011

Coal supply agreement

Mogoin gol JSC

2011

Power Purchase Agreement

AUES and NETGC

2012

Coal supply for the proposed power plant will be from the Mogoin gol coal mine, which is situated 72km northeast  in Tsetserleg Soum, Khovsgol province.

Mogoin gol open-pit mine contains 11.2 million tonnes of coal reserve and adjacent Ovoot project area has been explored resulting in the delineation of maiden JORC compliant resource totaling 330.7Mt. Coal resource is sufficient for the proposed power plant operation.

In May, 2011, New Asia group signed a Coal supply agreement with “Mogoin gol” Joint Stock Company. As per CSA, the company has committed to purchase a minimum tonnes of coal on a “take or pay” basis.

The Environmental Impact assessment was approved in 2012.

The company signed a Power Purchase Agreements with the National Electricity Transmission Grid Company (NETGC) and Altia-Uliastai Energy system company.

Feasibility, geotechnical, seismic, water and other required studies have been completed.

Project Location

The project location is in Telmen Soum, Zavkhan Province in western Mongolia. The location is on the cross road of major unpaved highway to western provinces, 900km west of the capital city Ulaanbaatar and 170km  east of Uliastai, provincial center of Zavkhan.

Project Financing

The company entered into the Investment Agreement with a partner company to jointly develop the proposed Power Plant Project. The company is in active discussions with international investment banks and private equity firms. Investors who are interested in the project are currently finalizing due diligence of the project.

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