Our team
Sunsteppe Renewable Energy is a Mongolian based and run company with a goal to significantly increase the development of sustainable and environmentally friendly renewable energy projects across the country and to become an independent power producer and a partner of choice. The company has been formed through a joint venture collaboration of Wolfson Capital and Petro Matad Ltd.
Petro Matad limited, a UK listed, upstream E&P company with 17 years operating experience in Mongolia provides development cost funding, project execution capability and other supports. The company has in-house expertise in infrastructure, logistics, government and community relations, project engineering, HSSE, finance and corporate governance.
The combination of the two companies into the Sunsteppe Renewable Energy Joint Venture has created an experienced and nimble in-country operator with the financing in place to advance high-graded projects and the potential to bring in world class, well-funded partners and see projects through to revenue generation.
Our developments
Over the past 8 years Wolfson Capital has been a leading local developer of renewable energy projects in Mongolia having worked on Solar PV, Wind Farms and Mongolia’s first utility scale battery storage project. The management team has over 15 years’ experience in senior roles in the Mongolian and international energy sectors with project finance, engineering and development expertise. Wolfson Capital has brought 50MW Mongolian renewable energy projects to construction ready status and is under construction.
Board of Directors
Mike Buck
Board of director
Mr. Buck is a geologist/geophysicist by training and joined the oil industry in 1979. He spent 20 years with LASMO PLC working first as a prospect generator focused on the UK continental shelf. He then moved to international assignments in Indonesia, Colombia, Vietnam and Libya and was involved in the discovery of several commercial oil and gas fields. Following Eni’s takeover of LASMO, Mike became Managing Director of Eni Pakistan and then Managing Director of Eni Iran, working on major oil and gas developments in both countries. In 2006, Mike joined S E Asian focused Salamander Energy PLC as Chief Operating Officer. After the takeover of Salamander by Ophir Energy he was retained to help with the integration process following which he consulted for a number of companies in the S E Asian region before joining Petro Matad in 2017 as Chief Executive Officer. Mike has worked on all aspects of the E&P value chain. He holds a BSc in Geophysics from Liverpool University and an MSc (with Distinction) in Petroleum Geology from Imperial College, London.
Zula Luvsandorj
Co-Founder/ CEO
Zula Luvsandorj has a background in project finance, specializing in infrastructure, energy and oil & gas. She has over 15 years of experience in project finance structuring and execution of large, scaled infrastructure, energy and oil & gas projects for multinational entities in Europe, Middle East and Africa. During her banking career in London, Zula executed deals covering US$20bln in energy, infrastructure, mining and renewable energy projects in the European, Middle East and African markets. Zula is the Managing Director of Wolfson Capital, an investment management firm, focusing on the Mongolian market, structuring and financing several high-profile green energy projects. Wolfson Capital is developing a green solar and hybrid hydrogen project in Mongolia. Zula is also the Chief Executive Officer of Sunsteppe Power LLC (a JV with Petro Matad Limited) and developing battery storage project in Mongolia. She is passionate about clean energy and s supporting both the public and private sectors in financing green projects. Most recently, during the 2020-2021, her career as a Project Finance Advisor to the UK Government’s, Infrastructure and Projects Authority (IPA) at the Cabinet Office, she has worked on UK's Hydrogen project and Government's incentive structuring. She holds an Oxford Executive MBA from Saïd Business School.
Tim Bushell
Board member
Mr. Bushell is a qualified geologist with more than 41 years’ experience in the oil and gas industry. He has worked for British Gas, Ultramar, LASMO, and Paladin Resources. Tim was Chief Executive Officer at Falkland Oil and Gas Limited and Director/co-founder of Core Energy AS (now part of Vår Energi AS). He is currently serving as Non-Executive Chairman of Wentworth Resources PLC and is also a Director of Redrock Energy Limited. Tim holds a BSc in Geology from the University of Liverpool and an MSc from the University of Reading.
Paul Vezolles
Board member
Mr. Paul is the founder and CEO of Chatham Park Development which is focused on urban residential, mixed-use and hotel real estate projects. He has more than 30 years of experience investing in real estate and public equities, including 20 years at the helm of the $4 billion-plus WEDGE Mid Cap Value fund. Paul is a board member of Magnostics, a biotech company, runs a small hospitality property business and invests in start-up companies. He has earned degrees from Indiana University (B.A. Economics), DePaul University (M.A. Economics), New York University (Executive MBA) and University of Oxford (M.S. Major Programma Management), as well as a Postgraduate Diploma in Financial Strategy from Oxford, where he also studied Real Estate, Private Equity and Impact Investing.
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