Tsaidamnuur power station
|This article is part of the CoalSwarm coverage of Mongolia and coal|
The Tsaidamnuur power station is a proposed 600-megawatt (MW) coal-fired power station in Tuv province, Mongolia.
The map below shows the proposed location for the plant, near Bayanjargalan in Tuv province.
Tengri Holding proposed a 600 MW supercritical coal plant for Bayanjargalan in Tuv province, Mongolia. It would be fueled by a proposed open-cut thermal coal mine in central Mongolia, also sponsored by Tengri Holding.
In August 2020, QT Vascular looked to acquire the entire interest in Tengri Coal and Energy (TCE) for S$1 billion in cash and new shares. The independent valuation was to take into account "all designs, permits and licences to build and operate a 600-megawatt (MW) coal-fired power plant." In addition, it would take into account "the executed agreements with a Chinese state-owned enterprise to provide 85 per cent debt financing for the construction of a power plant" and TCE signed an agreement with a New York venture capital firm to provide the rest of the funding for, among others, the remaining 15 per cent for the plant's construction.
However, in November 2020, QT Vascular announced that the conditional sale and purchase agreement signed with the Mongolian mining and energy company had ceased.
In April 2021, BlackGold announced it was acquiring the energy construction and mining-related group for US$1 billion. (BlackGold Natural Resources Limited signed a non-binding term sheet with MGL Development Pte. Ltd. to purchase Tengri Coal and Energy Pte. Limited. MGL was the shareholder of TEC, which owned Tengri Petrochemicals LLC, which in turn owned Tsaidam Energy LLC.) The press release described the 600 MW project, a US$860 million capital expenditure project, as "now ready for groundbreaking."
However, in August 2021, the planned acquisition was reportedly scrapped. The seller, TCE's sole shareholder, terminated the sale and purchase agreement as a share placement exercise was not completed by the deadline. The deal, valued at S$1 billion, would have resulted in a reverse takeover of BlackGold.
Without no recent known developments on the project, it is presumed shelved or cancelled.
- Sponsor: Tengri Coal & Energy Corporation Ltd.
- Parent company: Tengri Holding
- Location: Bayanjargalan, Tuv province, Mongolia
- Coordinates: 47.0602774, 107.8135107 (exact)
- Status: Cancelled
- Gross Capacity: 600 MW
- Type: Supercritical
- Projected in service:
- Coal Type:
- Coal Source: Domestic
- Source of financing:
Articles and resources
- "International Millennium Mining Corp. Announces Transaction With Phoenix Capital Enterprises Ltd," International Millenium Mining Corporation, August 31, 2018
- Energy Projects, Tengri Holding, accessed March 2020
- "Mongolia mining, energy group to be injected into QT Vascular in S$1b RTO," Business Times, August 24, 2020
- "QT Vascular shares plunge after it scraps $1 billion reverse takeover plan," The Straits Times, November 23, 2020
- "BlackGold to Acquire Energy Construction and Mining-related Group in Mongolia for S$1 Billion," Black Gold, April 9, 2021
- "BlackGold's proposed reverse takeover falls through," Business Times, August 12, 2021