Development of Second Private Sector Wind Farm in Mongolia
Baker & McKenzie.Wong & Leow, the Singapore member firm of Baker & McKenzie International, has advised on only the second wind farm to be successfully developed by the private sector in Mongolia. This follows the Firm's advice on the first successfully developed Wind Farm in 2013.
The Firm advised the sponsors, Newcom and Softbank Group, on the development and financing for the construction of the 50MW Tstesii Wind Farm in southern Mongolia. The project will help to supply Mongolia's power demand with clean, eco-efficient electricity by harnessing the country's inexhaustible wind resources, contributing to the trend of increasing adoption of renewable energy in Mongolia.
Martin David, Principal and Head of the Singapore Project Practice, led the team, supported by Principal Ang Kim Hock and Local Principal Erik Bégin.
Commenting on the project, Martin David said: "We are pleased to have advised Newcom and Softbank Group on this successful development and financing. We have now advised as lead counsel on four power projects in Mongolia - more than half of the power projects being developed in the country. Our continued work in this important market demonstrates our strength in bringing together both power sector and emerging market knowledge and experience. Our Singapore team regularly advises on projects around the Asia Pacific region allowing us a solid understanding of the challenges and opportunities to help our clients complete these complex projects in new and emerging markets."