Mongolia has begun developing its renewable energy industry which would be considered as the priority of energy sector's development, Mongolian energy minister D.Zorigt said.

Mongolian mineral resources and energy minister D.Zorigt made the remarks at the " Mongolian Renewable energy 2012 " international conference which concluded here on Friday.

Over 100 specialists, company representatives, government and international organization officials participated the two-day conference and they put forward many advices and technology solutions for Mongolia's renewable energy development.

During the meeting, many specialists said energy and environment issues have become common concerns of international community, stressing developing new energy and renewable energy have become key measures to guarantee energy security and sustainable development for every country.

B.Byambasaikhan, CEO of Mongolia's leading renewable energy company Newcom Group, told the conference Mongolia boasts abundant wind and solar power resources, but the development of renewable energy industry faces difficulties in technology and investment fields.

Mongolia's Newcom Group and U.S. General Electric Company are jointly building the country's first wind farm-Salkhit Wind Farm, some 70 kilometers to the east of Ulan Bator. The 100-million U.S. dollar project aims to provide clean energy for Ulan Bator and alleviate the capital city's air pollution.

Mongolia boasts rich wind power resources. According to specialists' estimates, the country's wind energy generation capacity could reach 2.55 trillion KWH annually.

At present, Mongolia's electricity consumption grows between 8 to 10 percent annually and the wind power can provide substantial clean electricity for the country's rapid economic development.