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Prophecy Coal Corp announced that the Energy Authority of Mongoliahas entered into a Cooperation Covenant with Prophecy to bring the600 MW Chandgana Power Project online by 2016. The EA is the agency which implements governmental policy in thepower and energy sector of Mongolia. The Covenant provides requiredsupport for the construction and operation of the Chandgana 600 MW(4 x 150 MW) mine mouth power plant in central Mongolia and itscapacity to supply the necessary electricity to the central andeastern region's power grids by 2016. The Covenant also covers the basic rights and obligations of theSeller and Purchaser of the electric energy, including thefollowing highlights: 1. The Energy Authority shall monitor the Chandgana Power Plantconstruction process to ensure the power plant is constructedwithin Mongolian regulations, and approved technical and designspecifications. 2. Prophecy shall construct and commission the Chandgana PowerPlant according to the license issued by the competent governmentbody and do so within approved design and technical specifications. 3. Prophecy shall supply electricity from the Chandgana Power Plantto the Central and Eastern Energy Systems with 100 MW Net ElectricOutput starting from the 1st quarter of 2016, up to 200 MW from the3rd quarter of 2016, 300 MW from the 1st quarter of 2017, and 400MW from the 3rd quarter of 2017. 4. Prophecy shall link the Central and Eastern Energy Systems byconnecting the Chandgana power plant with the Baganuur 220 kVsub-station by 220 kV two-circuit overhead transmission lines tothe west and with the Undurkhaan 110 kV sub-station by 220 kVoverhead transmission lines to the east. 5. As the Mongolian government's implementation agency, the EAconfirms the need to purchase the Net Electric Output described inClause 3 of the Covenant, to satisfy the electricity energy demandsof the central and eastern regions. 6. The obligations and liabilities of the Parties provided in theCovenant shall serve as the guidelines, and basic terms andconditions of the "Power Purchase Agreement" (PPA) to be furtherentered into between the Seller (Prophecy) and Buyer (NationalElectricity Transmission Grid Company of Mongolia, NETGCO). Mr John Lee chairman and CEO of Prophecy states that "We are verygrateful for the support from various Mongolian government agenciesto help bring the Chandgana Power Plant project online and onschedule. This landmark agreement forms the basis of our continueddiscussion regarding a PPA." Source - Prophecy Coal. I am an expert from hydraulic-piston-pump.com, while we provides the quality product, such as Rexroth Pumps , Nachi Pump Manufacturer, Sauer Pumps,and more.
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