PRESS RELEASE: Newcom Group has been re-selected as the preferred bidder for CHP-5

CHP-5Ulaanbaatar, Mongolia – 26 August 2013: On 28 August 2013, the Ministry of Economic Development and Ministry of Energy on behalf of the Government of Mongolia, re-selected Newcom LLC., together with its consortium partners, as a preferred bidder and signed an Memorandum of Understanding to build, operate and transfer Combined Heat and Power Plant #5 in Ulaanbaatar, Mongolia.   

Newcom Group, Mongolia’s clean technology and infrastructure investment group, has formed a multinational consortium consisting of France’s GDF Suez, the largest independent power producer in the world, Sojitz, Japan’s sixth largest trading corporation, and Posco Energy, South Korea’s largest private power producer.  

The plant with a total installed capacity of 450MW will introduce a Circulating Fluidized Bed Combustion coal-burning energy efficient technology. CHP 5 will significantly reduce SOx, NOx and other toxic emissions by using less fuel, without compromising the quality and reliability of the energy supply.  Mongolia has harsh continental climate, therefore reliability and secure power and heat generation are vital for ensuring national security and well-being of the people.  As the current power plants are deteriorating, the construction and operation of CHP 5 Power Plant will be critical in providing reliable, energy efficient electricity and heat supplying Mongolia’s rapidly growing economy.

The plant will commence operation in 2017.  

About Newcom:    

Newcom is a Mongolian clean technology and infrastructure investor committed to connecting people and bridging distances. Newcom partners with global technology leaders to bring global expertise and innovation to Mongolia. The Newcom Group today employs 2,300 people and has a diverse portfolio of investments across telecommunications, information technology, airline, financial services, energy, real estate and mining services.
Newcom introduced cell phones to Mongolia in 1996 by investing and establishing Mobicom, the country’s premier mobile telecom operator. Newcom launched Eznis Airways in 2006. Eznis today is Mongolia’s leading private airliner flying passengers to all domestic destinations and a few cities in neighboring China and Russia.

Background on consortium partners:
GDF Suez- world leader in independent electricity generating company.
Sojitz Corporation- Japan’s sixth largest trading corporation
POSCO ENERGY- South Korea’s largest private power producer