AsianScientist (May 30, 2011) – Asia must expand solar energy generation if the region is to stay on its strong economic growth path and reduce carbon emissions, says Asian Development Bank (ADB) Vice-President Xiaoyu Zhao.
Many Asian countries have a natural solar energy advantage given they are both sunny and have large areas of land unsuitable for other uses. However, large-scale solar power generation has been hampered by a lack of suitable project financing mechanisms, institutional and policy constraints, and knowledge gaps.
Around 900 million people in developing Asia still have no access to electricity, and many others in remote areas pay very high prices for power that is typically generated by fossil fuels.
At present, less than 0.25 percent of Asia’s overall electricity production comes from solar power. According to Mr. Zhao, this represents a “significant potential” for solar energy, and the ADB hopes to increase that contribution to 3-5 percent in the near future. The ultimate goal of the Asia Solar Energy Initiative is to provide solar energy at a cost equal to, or lower than, electricity from the grid.
“The initiative is consolidating our efforts to take advantage of the wider adoption of solar technologies resulting from rapid technological advances, larger scales of production, and lower production costs,” said Mr. Zhao.
Promoting clean, renewable energy is one the top priorities of the ADB. In 2010 it invested $1.8 billion in clean energy, exceeding its $1 billion target for a third year in a row. From 2013, the target will rise to $2 billion a year.
In Thailand, ADB is helping to finance the construction of two private sector solar projects. The Natural Energy Development Company’s initial 73-megawatt plant in Lopburi – one of the world’s largest solar photovoltaic power plants – and the 38-megawatt project from Bangchak Petroleum Company PCL in Ayutthaya will both be generating electricity later this year.
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Source: Asian Development Bank.
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