OPENING CEREMONY OF THERMAL POWER PLANT NO.5 HELD

 

The official opening ceremony of the Thermal Power Plant No.5 (TPP-5) project, a strategically important initiative aimed at meeting the growing electricity and heating demand of Ulaanbaatar City, was held on May 4, 2026.

The ceremony was attended by Minister of Energy B.Naidalaa, Governor of the Capital City and Mayor of Ulaanbaatar H.Nyambaatar, and representatives of the private sector partner “Mitime International”.

Chairman of the Board of Directors of UBIM L.Khosbayar, Board Member L.Erdenebadrakh, Chief Executive Officer G.Gangamurun, and the management team also participated in the event.

UBIM responsible for organizing the financing structure and implementation preparation works of the TPP-5 project. Through “Capital City Development Fund Private Investment Fund JSC,” the company is participating in the financing by investing in shares of the project company.

The total project investment amounts to USD 658.6 million, with 80% financed by the private sector partner and 20% by the public sector partner. To establish the financing source for the public sector share, the MNT 200 billion “Capital City Bond” was successfully issued in the domestic financial market.

Once implemented, the TPP-5 project will improve electricity and heating supply in the western zone of Ulaanbaatar and create the foundational conditions necessary to advance affordable housing developments, new settlement areas, and industrial and service sector projects.