September 28, 2016
Clean Energy Asia LLC
SB Energy Corp.
Newcom LLC
Japan International Cooperation Agency
European Bank for Reconstruction and Development
Construction of Tsetsii Wind Farm at
Tsogttsetsii soum, Umnugobi aimag, Mongolia
Project to contribute to Mongolia’s sustainable economic development
Clean Energy Asia LLC together with its shareholders, Newcom LLC and SB Energy Corp., signed todaywith the Japan International Cooperation Agency (hereafter “JICA”) and the European Bank for
Reconstruction and Development (hereafter “EBRD”) financing agreements to construct a 50MW windfarm in southern Mongolia.
Clean Energy Asia LLC, (Head office: Ulaanbaatar city, CEO: Gankhuyag Dagva, hereafter “Clean EnergyAsia”), is 51% owned by Newcom LLC, a Mongolian conglomerate with activities intelecommunications, property and energy. The remaining 49% is owned by a subsidiary of SB Energy
Corp. (Chairman & CEO: Masayoshi Son, hereafter “SB Energy”), a subsidiary of SoftBank Group Corp.
(the telecommunications and technology conglomerate).
Mongolia faces great challenges in meeting its growing demand for electricity, almost all of which iscurrently met by ageing and polluting coal-fired plants. The wind farm will help supply Mongolia's
power demand with clean, eco-efficient electricity by harnessing Mongolia's vast and inexhaustible windresources. The project will help contribute to sustainable economic development and the mitigation ofclimate change. Clean Energy Asia will aim to launch operations in December 2017.
Mongolia has a power-supply capacity of 1130MW, consisting of 88% coal, 6% diesel, 6% renewableenergy, and 2% hydropower sources (Department of Energy, Mongolia, 2015). While being the world’seighth country most susceptible to climate change (Climate Risk Index. Source: GERMANWATCH“Global Climate Risk Index 2014”), electricity supply-demand balance along with its economic growthis an urgent issue for Mongolia; accordingly, Mongolia is a country that particularly requires safe andsecure power sources such as renewable energy. The State Great Khural approved a national power
policy in 2015 that sets Mongolia’s mid-to-long term target and plan for 2015-2030 in the energy sector.
The policy aims to increase the power generation share of renewable energy to 20% by 2020 and to
30% by 2030, and it stipulates the promotion of investment in the energy industry in cooperation withinternational financial institutions and donor countries, utilizing the abundant wind and solar resourcesin the Gobi region. Mongolia is the first country to sign a memorandum with Japan on the Joint
Crediting Mechanism (JCM) to reduce greenhouse gas emissions.
In these circumstances, this Tsogttsetsii wind farm project will help contribute to the increased adoptionof renewable energy in Mongolia.

This wind farm project is the first dollar-denominated project finance debt transaction by JICA throughits Private Sector Investment Finance scheme in the renewable energy field, and the second renewableenergy project in Mongolia for Newcom and EBRD following the 50 MW Salkhit Wind Farm, the firstwind farm and first private power generator in Mongolia, which began its operations in 2013. The 50MW
Tsetsii Wind Farm project marks the first power generation business in Mongolia for SB Energy and theSoftBank Group.
Masayoshi Son, SB Energy Chairman & CEO commented as follows:“This project marks the first step to develop renewable energy in Mongolia for the SoftBank Group.
Power generated from the wind farm will supply electricity in Mongolia by connecting to its domestic
grid, and I believe the project will help contribute to the stable supply of power for the nation. With
this project, the SoftBank Group will have bases in Japan, India and Mongolia for its renewable energybusiness. We will work to further expand our global business to increase the adoption of renewableenergy and reduce CO2 emissions.”
Boldbaatar Tserenpuntsag, Chairman of Newcom Group commented as follows:“Having first established the Salkhit Wind Farm Project, to date the first and only wind farm andprivate power generator in Mongolia, Newcom is proud to continue its investments into Mongolia’s
renewable energy sector. The Tsetsii Wind Farm project is a further demonstration of Newcom’s
commitment to the development of Mongolia through strengthening infrastructure and leading theliberalization of the power sector through sustainable and long-term investments.
Newcom is proud to introduce our partnership with the SoftBank Group through this pilot Tsetsii
Wind Farm project. Founded and led by the internationally renowned entrepreneur and businessleader Masayoshi Son, the leading global technology player, is now actively engaged in building amore sustainable and peaceful world through the development of renewable energy. Newcom ispleased to play its part in this initiative.
I would also like to acknowledge and thank our international lending partners, JICA and EBRD, fortheir contribution and support to the project. The Tsetsii Wind Farm project is JICA’s first private
project financed transaction in the renewable energy sector and will be EBRD’s second wind power
project in Mongolia in partnership with Newcom, a clear testament to our shared goal andcommitment to develop Mongolia’s power sector.”
JICA commented as follows:“The Tsetsii Wind Farm project in Mongolia marks JICA’s first dollar-denominated project finance debt
transaction through its Private Sector Investment Finance scheme in the renewable energy field. This
project is also the first co-financing arrangement with EBRD. The project is consistent with the‘Partnership for Quality Infrastructure’ being promoted by the Japanese government with due
consideration on life cycle costs, environmental and social sustainability, and contribution to the local
society and economy .
JICA has been supporting the power sector in Mongolia, especially Ulaanbaatar Thermal Power Plant
No.4. JICA intends to continue providing support to the power sector in Mongolia for stablesocioeconomic growth.

Going forward, JICA will coordinate with governments and international agencies toward
socioeconomic development in developing countries and regions, promoting ‘quality infrastructure
financing’ and responding to climate change.”
Philip Bennett, EBRD's First Vice President and Chief Operating Officer, said:“We are delighted to mark the tenth anniversary of our operations in Mongolia today by signing thefinancing for our second wind farm in the country. We are pleased to cooperate in this transaction
not only with our long established partner Newcom, but also with our new partners JICA and theSoftBank Group. This signing today builds on eight years of sustained work with the Mongolian
authorities to help them put in place the regulatory framework that allows them to harness
Mongolia's huge renewable resources. Of the EUR 1.4 billion we have invested in the Mongolian
private sector in the last 10 years, the Salkhit and the Tsetsii wind farms are amongst the projects weare most proud of."
SB Energy, Newcom, JICA, and EBRD will work to contribute to Mongolia’s renewable energy businessdevelopment and power infrastructure system enhancement.
Summary of Wind Farm
Location
Output scale
Image photo for completion

Tsogttsetsii soum, Umnugobi aimag, Mongolia
50MW: 2,000kW x 25 generators

About Clean Energy Asia LLC
Clean Energy Asia LLC (CEA) was established in 2012 as a joint venture between Newcom LLC and SB
Energy Corp., the renewable energy arm of the SoftBank Group.
About SB Energy Corp.
SB Energy is a subsidiary of SoftBank Group Corp. and one of the leading renewable energy
companies in Japan. As of September 2016, it had over 308.6MW of power in operation with 26 plants(equivalent power needed to supply approximately 96,000 households). SB Energy is aiming to spreadand expand the adoption of renewable energy derived from natural sources, such as large scale solar
power generation (Mega Solar) and wind power generation.
About Newcom LLC
Newcom is a Mongolian clean technology and infrastructure investor committed to bringing global
expertise and innovation to Mongolia. Newcom Group has a diverse portfolio of investments across
telecommunication, information technology, financial services, renewable energy, real estate andmining services sectors. The company operates Mongolia’s first wind farm, with capacity of 50 MW
and located 70km from Ulaanbaatar city and is in the process of developing the 450 MW combined
heat and power plant #5 as part of an international consortium awarded the concession agreementby the government. The company’s headquarters are in Ulaanbaatar, Mongolia. For more information,please visit www.newcom.mn.
About the Japan International Cooperation Agency (JICA)
JICA assists and supports developing countries at the executing agency of Japan’s ODA (OfficialDevelopment Assistance). In accordance with its vision of “Inclusive and Dynamic Development,” JICA
supports the resolution of issues of developing countries by using the most suitable tools of various
assistance methods and a combined regional-, country- and issue-oriented approach.
About the European Bank for Reconstruction and Development (EBRD)
The EBRD is a multilateral bank committed to the development of market-oriented economies and thepromotion of private and entrepreneurial initiative in more than 30 countries from Morocco toMongolia and from Estonia to Egypt. The Bank is owned by 65 countries, the EU and the EIB. Follow us
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