TTPP Power Source Framework Agreement signed

Ulaanbaatar /MONTSAME/ On December 31, the Government of Mongolia and Oyu Tolgoi LLC signed the Power Source Framework Agreement (PSFA), which sets out the pathway for Oyu Tolgoi (OT) to construct the Tavan Tolgoi Power Project (TTPP) and secures a long-term domestic power solution for OT and the wider South Gobi region. 

The agreement outlines the fundamental principles for sourcing a domestic power solution for Oyu Tolgoi, the key roles of each of the parties and the technical design of the project. The 300 megawatt plant will be majority owned by Oyu Tolgoi and will be situated close to the Tavan Tolgoi coalfields. The partners will also consider how to utilise renewable power sources as part of the overall solution.

The signing of the power agreement is a significant step towards enhancing economic efficiency of the Tavan Tolgoi coal mines, construction of related infrastructure in compliance with the Parliamentary resolution No 73 issued in 2018 and supplying the southern region with domestic power and securing long term sustainable operation of Oyu Tolgoi, especially its underground mine.

The PSFA has been signed by Minister of Energy Ts.Davaasuren and Head of Energy Regulatory Commission A.Tleikhan representing the Government of Mongolia; and Chairman of the Board of Directors of OT G.Batsukh and OT CEO Armando Torres representing Oyu Tolgoi LLC.

Source: Montsame News