Jul 5 2010
The Asian Development Bank (ADB) is leading the creation of a non-profit entity that will promote large-scale solar energy development in Asia. This plan was unveiled by ADB at the Asia Solar Energy Forum in Manila, Philippines.
Already in May 2010, in Tashkent, Uzbekistan the bank announced the Asian Solar Energy Initiative valued at $9 billion for developing about 3 GW of solar energy in the Asia-Pacific area over the coming three years.
This new entity, to be created this year, will forge collaboration among governments from developing and developed nations to facilitate solar power projects in Asia. A collaboration such as this is likely to address problems associated with high initial expenses by providing innovative financing mechanisms. The secretariat of this novel entity is likely to be built in Tokyo, Japan.
This initiative is likely to attract the participation of major corporations that show interest in the solar energy business and governments from both developing and developed nations. The main goal of this new initiative is to transfer technology and share information to developing nations from developed nations, facilitate solar energy business and decrease carbon dioxide emissions.