ENGAGED
Project Elevator Pitch
Confidential · For registered investors
Issued
2026-07-20
TNG
Mongolia · Energy
600 MW Power Plant & Coal Mine | Mongolia
Energy
Capital Sought
USD 860,000,000
Spent to date
USD 55,000,000
Country
Mongolia
Repayment
Power Purchase Agreement
Submission Ready Indicators
LTV Expectation
95%
Land / Site
Owned
EPC Contracts
Signed
Off-take Agreements
Completed awaiting signature
Projections
Completed and available
This opportunity qualifies for Internationally A+-rated Insurance Wrap — elevating the debt element of project financing through the Lloyds-of-London insurance market.
About this opportunity
TNG is both a mining operation to supply coal for the electrical power plant. The Tengri Coal & Energy (TCE) 600 MW Mine-Mouth Power Project in Mongolia represents one of the country’s most strategically important and financially attractive infrastructure investments. With a total CAPEX of USD 860 million, the project is fully permitted and shovel-ready, anchored by a 25-year sovereign Power Purchase Agreement (PPA) at USD 0.07/kWh for 300 MW, with the remaining output secured through captive consumption. A KPMG-validated financial model confirms a 16% IRR and a 6-8 year payback period.
The project delivers essential baseload power to a market that currently imports over 20% of its electricity, directly supporting Mongolia’s energy security and reform agenda. Its chimney-less supercritical design achieves emissions far cleaner than EU standards, while the parallel rollout of 200 MW of wind and solar positions TCE as a transitional platform toward Net Zero. The project also includes a 200 km transmission line into the Central Energy System, reinforcing Mongolia’s grid and enabling future regional power trade.
Five-year projections
All figures in USD| USD | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Turnover | 168,568,833 | 171,939,210 | 175,379,014 | 178,542,659 | 182,464,326 |
| EBITDA | 152,039,017 | 155,080,612 | 158,182,224 | 161,345,869 | 164,572,786 |
| Margin % | 90 | 90 | 90 | 90 | 90 |
PFX registered investors were provided with the dataroom for this project prior to listing.
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Confidential — PFX Registered Investors Only · Not for redistribution
PFX / TNG / 2026-07-20