Thai solar power producer Sermsang Power Corporation PCL has announced that its board of directors has approved acquiring a 75% stake in a solar project in Mongolia with an installed direct current (DC) capacity of 16.4 MW.
Specifically, Sermsang Power plans to co-invest with Japanese and Mongolian partners in the Khushigt Valley project to the south of the capital Ulaanbaatar near the new international airport.
The Thai company expects to invest some USD 17 million (EUR 14.4m) in the scheme. The exact size of its investment depends on the amount of project financing the parties manage to secure. An agreement is expected to be signed by the end of the year.