Policy certainty: among Mongolia's first public auction projects, with ADB overseeing a compliant process
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
Projects / Overseas Renewable Energy
Khentii 20MW solar PV + 15MW/40MWh storage project
The Khentii 20MW solar PV + 15MW/40MWh storage project (Project 5) is among the first winners of Mongolia's public renewable-energy auction, developed by the Runxin–MMS consortium, with a 25-year PPA signed at a locked 7.8 US cents/kWh. Located in Kherlen soum, Undurkhaan, Khentii, it is scheduled to connect to the grid on 1 December 2026 with annual generation of no less than 35.19 GWh.
Overview
Starting from the current stage, continue to advance key priorities
The Khentii 20MW PV + 15MW/40MWh storage project (Project 5) is among the first winners of Mongolia's inaugural public renewable auction. On 18 June 2026, 160+ enterprises bid; the Runxin–MMS Engineering consortium won at 7.8 US cents/kWh and has signed a 25-year PPA with the tariff locked for 25 years. The project builds a 20.09MWp solar plant (28,701 Trina 700Wp modules, Sungrow inverters) and a 15MW/40MWh Huawei BESS, with a new 110kV substation and ~3.5km line to the Undurkhaan 110/35/6kV substation. It targets grid connection on 1 December 2026 with ≥35.19 GWh annual generation and a 60-year land-use right. Total investment is about US$25 million; at the winning tariff, annual revenue is ~US$2.74 million and 25-year contract revenue ~US$68.5 million, with an after-tax IRR of ~7%–10% and payback of ~8–10 years — better than domestic peers thanks to the locked tariff. Mongolia faces a ~200MW winter gap and urgent transition; Chinese solar-storage tech is proven at −45°C locally. Runxin and local MMS (0.4–110kV qualified) co-develop the project, with winter-specific measures in place; post-grid exit is flexible via equity transfer, dividend holding or REITs.
Current statusWon bid · Under constructionUpdated August 2026
- Business line
- Overseas Renewable Energy
- Location
- Mongolia · Kherlen soum, Undurkhaan, Khentii
- Current stage
- Won bid · Under construction
- Disclosed scale
- 20MW PV · 15MW/40MWh storage
Current priorities
Advancing the next phase around confirmed matters
Revenue certainty: 25-year fixed-tariff PPA, power purchased by Mongolia's grid (NDC) with government backing
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
Technical feasibility: Chinese comparable technology proven in Mongolia's −45°C extreme cold
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
Controllable schedule: a moderate 20MW scale makes the 1 December 2026 grid-connection target achievable
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
First-mover advantage: an inaugural auction project that builds a track record for later bidding rounds
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
Local synergy & flexible exit: MMS local team supports approvals and construction; post-grid exit via equity transfer, dividend holding or REITs
This matter is progressing in line with the project stage; subsequent progress is subject to official updates.
Project stage
Clear on where the project stands, without substituting concepts for progress
01Early assessment
02Permits, financing & development preparation
03ConstructionCurrent stage
04Operation & delivery
Disclosure
Critical construction phase, grid-connection target clear
Grid connection is scheduled for 1 December 2026. September–November is the peak equipment-installation period, with grid-connection commissioning starting in November. These critical stages coincide with the local harsh winter; the project has prepared special construction and O&M measures for extreme cold and snowstorms.
Contact Runxin ↗