Renewable Energy Program #1 - Solar Mongolia

The evaluation assesses the performance of the 10 MW Sumber Solar Power Plant (SPP) in Mongolia, funded by a USD 8.65 million GCF loan and USD 8.9 million in equity. The project is rated as "Satisfactory," having successfully reduced GHG emissions by 29,722 tCO2eq and produced 34,124 MWh of electricity by the end of 2020. While the program closed early in December 2020 due to loan refinancing by the project developer, it demonstrated the bankability of solar projects in Mongolia and aligned with national targets to reach 30% renewable energy by 2030. However, the evaluation noted shortcomings in gender-disaggregated data and the implementation of the Gender Action Plan.

• The program's impact and outcomes are fully aligned with Mongolia's national climate goals, specifically the Intended Nationally Determined Contribution (INDC) to reduce GHG emissions by 14% by 2030 and the Nationally Determined Contribution (NDC) target of 22.7% by 2030.
• Since connecting to the central grid in March 2019, the Sumber SPP reduced GHG emissions by 29,722 tCO2eq. The actual cost per tCO2eq was USD 47.49, which is 17% lower than the expected cost of USD 57.24.
• The 10 MW Sumber SPP successfully met its electricity generation targets, producing 34,124 MWh by the end of 2020, which is 3% higher than the annual target of 15,395 MWh.
• GCF financing contributed 10 MW to a total of 90.8 MW of solar power plants installed or being installed in Mongolia as of 2020.
• The program's Gender Action Plan (GAP) saw limited success; while gender-balanced employment was achieved, community outreach and procurement from women-owned businesses were not fully successful, and Annual Performance Reports lacked adequate sex-disaggregated data.
• The program closed early in December 2020 because the project developer refinanced the GCF loan with a lower-interest debt arrangement from an equity co-investor, which did not negatively impact the continuous delivery of electricity or emission reductions.
• The project is considered a success story that unlocks potential for replication in other Mongolian regions, noting that five other SPPs totaling 35.5 MW are under construction with Asian Development Bank support.
• The use of GCF funds to finance bankable projects through an Accredited Entity was identified as an innovative financial instrument likely to stimulate further renewable energy development.

APA

Green Climate Fund (2021). Renewable Energy Program #1 - Solar Mongolia. https://www.greenclimate.fund/sites/default/files/document/fp046-interim-evaluation-report-pub_0.pdf

Chicago

Green Climate Fund. Renewable Energy Program #1 - Solar Mongolia. 2021. https://www.greenclimate.fund/sites/default/files/document/fp046-interim-evaluation-report-pub_0.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Renewable Energy Program #1 - Solar Mongolia |date=December 2021 |url=https://www.greenclimate.fund/sites/default/files/document/fp046-interim-evaluation-report-pub_0.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2021renewable, author = {{Green Climate Fund}}, title = {{Renewable Energy Program \#1 - Solar Mongolia}}, institution = {Green Climate Fund}, year = {2021}, month = dec, url = {https://www.greenclimate.fund/sites/default/files/document/fp046-interim-evaluation-report-pub_0.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }