Newcom Group and GDF Suez of France have signed a Memorandum of Understanding

Aligned with the energy sector development policy, the Government of Mongolia announced a competitive bidding to develop a 5th energy source in Ulaanbaatar. The consortium, with the Newcom Group and the GDF Suez S.A. as two of the partners, has been selected as a preferred bidder and signed a memorandum of understanding with the Government of Mongolia represented by the Ministry of Economic Development and the Ministry of Energy on August 28, 2013.

During the official state visit by the French Foreign Affairs Minister, we the Newcom Group and the GDF Suez S.A. have agreed and signed a memorandum of understanding to extend further our cooperation into renewable energy sector of Mongolia on October 25, 2013.     

GDF Suez is a leading independent electricity generating company with installed power generating capacity of 117 GW in operation and 7.2 GW of power production capacity under construction.  GDF Suez has presence in over 50 countries and operates in power generation in 70 countries. The power generating capacity is 140 times larger than Mongolia’s current energy capacity.  

Since the establishment, the Newcom Group has been actively involved in developments of infrastructure sector. Recently, the Group commissioned the first 50 MW wind park, becoming the first ever independent power producer of Mongolia.  

Newcom GDF Suez MOU

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.