The project — to be built south of Ulaanbaatar near Sainshand, Dornogovi province — could be connected to the grid by late 2015.

It is expected to provide 190GWh of electricity per year upon completion, the Essen-based company said in an online statement, without revealing the size of the stake.    

Ferrostaal and developer Sainshand Wind Park LLC have already secured licenses and a power purchase agreement for the project.