Asian Development Bank Suggests India Will Lead Solar Power Generation in Asia and Pacific Region

In a recently held conference at the State of Gujarat in India, H. Sultan Rahman, the Director General of Asian Development Bank (ADB), said that with its increasing demand for electricity, sufficient availability of land, and a supportive government for the growth of renewable energy, India is poised to play a leading part in the generation of solar energy among the countries in the Asia Pacific region.

Rahman said that the initiatives of the central and state governments towards implementing renewable energy projects has resulted in an increased number of solar projects to maintain the country in a vanguard position of solar power generation. ADB is participating in a proposed renewable energy project that is coming up in a 2,500 hectare land at Charanka in the state of Gujarat. It has agreed to lend $100 million loan to finance the erection of a 500 MW transmission line to connect the proposed Charanka Solar Park to the national power grid.

ADB launched its Asia Solar Energy Initiative (ASEI) in May 2010 to recognize and fund large-sized solar projects to increase solar power generation in the region. Before the introduction of the initiative the region has generated fewer than 500 MW of solar electric power from the prevailing solar plants. ADB aims to achieve 1000 MW solar power generation by the end of 2011 and 3000 MW in May 2013.