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Mongolia Hydroelectric Power Plant Industry Analysis
Hydroelectric power plants have been playing an important role in Mongolia's energy mix for several decades. The country has an abundance of rivers and natural water resources, making it well-suited for the development of hydropower projects. Currently, hydropower accounts for around 3% of Mongolia's total electricity generation, with a total installed capacity of around 110 MW.
The largest hydropower plant in Mongolia is the 50 MW Orkhon hydropower plant, which was commissioned in 2015. The plant was built with the help of funding from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA). In addition to Orkhon, there are several other hydropower projects in various stages of development in Mongolia, including the 10 MW Selenge River hydropower project, which is being developed with support from the World Bank.
One of the major drivers of the hydropower industry in Mongolia is the country's rapidly growing demand for electricity. Mongolia's economy is heavily dependent on its natural resources, particularly coal and copper, and the government has set ambitious targets for increasing the country's mineral exports. To support this growth, the country's electricity demand is expected to increase significantly in the coming years, and hydropower is seen as a key source of renewable energy that can help meet this demand.
Another driver of the hydropower industry in Mongolia is the government's efforts to diversify the country's energy mix and reduce its reliance on coal. Mongolia is one of the most coal-dependent countries in the world, with coal accounting for around 90% of the country's total electricity generation. The government has set a target of increasing the share of renewable energy in the country's energy mix to 20% by 2023, and hydropower is expected to play a significant role in achieving this target.
However, there are also challenges facing the hydropower industry in Mongolia. One of the biggest challenges is the country's harsh climate and terrain, which can make it difficult to construct and operate hydropower plants. In addition, the country's small market size and limited transmission infrastructure can make it difficult to attract investment in hydropower projects.
Looking ahead, the outlook for the hydropower industry in Mongolia is positive, with significant potential for growth in the coming years. The government has set ambitious targets for increasing the country's renewable energy capacity, and hydropower is expected to play a key role in achieving these targets. In addition, the country's abundant water resources provide a strong foundation for the development of new hydropower projects. However, to fully realize the potential of the hydropower industry in Mongolia, significant investment will be needed in new projects and transmission infrastructure, as well as improvements in project planning and management.
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