Sunsteppe funding and construction partners21 Oct 2025 11:44
Hi all, I have decided to join you here as there seems to be a an increasing amount of news coming, so instead of asking others like Doz for sharing my posts I will try sending you the most interesting things directly. Thank you Doz for sharing them earlier today!
I want to emphasize one thing from my previous X post, check this tweet (numbers 7&8).
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It shows that Sunsteppe is setting up individual entities for specific projects, much like they do for oil licenses. The most notable insight from that is that they are working with a well-known investment company BDSec, and we can see their management being the directors of the company, and also shareholders/owners.
BDSec has been behind the largest Mongolian M&A deal (as of 2017 - APU JSC and Evergreen Investment LLC), and they work on bonds and offer investment advisory. They also operate their private GCKT Fund (Монгол Улс Жи Си Кей Ти Фанд Хувийн ХОС, document confirming this is in the tweet), the fund itself is also a part-owner of the new Sunsteppe company. opendatalab.mn/search/7124417
It seems no previous PM/Sunsteppe company had this ownership structure, previously they were set up/owned/directed by the BDSec staff on their own.
Also a renewables construction company is listed as part-owner. We could therefore deduct that for at least one of the projects, Sunsteppe has secured not just the funding party, but also the construction company (naanovo.com).
Not to forget (and add to the web of coompanies), Sunsteppe also has a company in Singapore. It therefore seems everything is getting set up for funding and construction, probably from the Gulf countries as this video suggests, although PM/Sunsteppe is not explicitly named.
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It indeed seems like it is coming together.
I have also contacted PM today to have their statement on the Rockwell engineering facebook post, to clarify that it has indeed been completed or if it is a translation issue. I found the existing 10MW plant on the map. Ours should be 50MW so much larger, therefore I think only the prep-stage has been completed, not the whole construction of the plant.
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Here at the end is the description of the two projects in Choir. They say the project is in operation since 2018 and the capacity 10MW matches Google Maps description.
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The company behind the existing plant is [LINK REMOVED]
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