Mongolia has a huge potential to export renewable electricity across Northern Asia. According to the ‘Renewables Readiness Assessment: Mongolia’ from the International Renewable Energy Agency (“IRENA”), Mongolia’s mostly untapped renewable resources could be used to kick-start a major cross border power corridor between Russia, Mongolia, China, South Korea and Japan. Mongolia’s Gobi Desert has a vast renewable energy potential of 2.6TW.
Mongolia’s current power generation capacity is currently made up of just 7% from renewables and the government set a target of 20% renewables by 2023 and 30% by 2030. Mongolia’s parliament recently adopted broad measures aimed at future sustainability including the Green Development Policy and the Law on Energy Conservation and Efficiency. The new law enables Mongolia to provide energy security and reliability.
- Mongolia has potential to become one of the major wind power producers.
- 10% of the total land area can be classified as excellent for utility scale applications, Power density 40—600W/m2, the resource could potentially supply over 1100 GW of installed capacity. Wind power classification of Good-to-Excellent wind power resources are equivalent to 1,113,300 MW of wind electric
- About 270-300 sunny days per year with an average sunlight duration of 2,250-3,300 hours are available in most regions of Mongolia. Annual average amount of solar energy is 1,400 kWh/ m2 with solar intensity of 4.3-4.7 kWh/m2 per day.
- There are 3800 small and big streams and rivers in our country, which could support up to 6417.7 MW of power and deliver 56.2 billion kWh of electric energy annually. • Theoretical potential 6.2GW, more than 1 GW of these has been identified.