Oyu Tolgoi solar power plant

Feb 17 2012 Published by under Energy from the desert, Mongolia

Bumped, last published on December 14th, 2011.

As blogged earlier, the power supply for Oyu Tolgoi is right now a topic for discussion for the Mongolian government and Ivanhoe.

With this post, I would like to strongly advocate for building some solar capacity.

For one, the World Bank just decided to give a $297 million loan to Morocco for financing a 500 MW concentrated solar power plant. These loans come at conditions of 0.49% over the London Interbank Offered Rate (LIBOR) for 6 months loans, which stands at 0.67% right now. Add some fees and you are looking at conditions of around 1.3% interest.

That should compare very favorable with interest Ivanhoe would need to pay on the free capital market for a coal plant project.

The Morocco project is for concentrated solar power, which provides electricity around the clock over molten salt storage.

I also understand that time is valuable right now. While solar photovoltaic won’t work around the clock, it could provide some serious power with a construction time of about three months. A recent German project of 78 MW built right out of the box was finished in that time.

Related posts:

On Morocco: November 18, 2011 $297 million World Bank loan for solar in Morocco

November 19, 2011 World Bank Youtube videos on Morocco Ouarzazate solar plant

On Oyu Tolgoi: November 16, 2011 Cameron McRae presentation on Oyu Tolgoi

November 18, 2011: Mongolian government discussing Oyu Tolgoi power plant

November 15, 2011 Oyu Tolgoi power plant

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