$9bn Solar energy initiative by ADB Asian Development Bank

ADB $2bnThe Manila-based multinational lender, which unveiled the initiative

at its annual meeting in the Uzbek capital Tashkent, said it would

provide an additional $2.25 billion to support a project to generate

3,000 megawatts of solar power by 2012. source: reuters.com

Energy demand projected to almost double in the Asia and Pacific region by 2030

The ADB said it would set up a separate $500 million fund to help kickstart the Asia Solar

Energy Initiative by covering some of the high start-up costs.

ADB launched the ambitious project open for public $7bn,

it hopes will attract $6.75 billion of private investment into solar