To sustain its growth momentum, Asia must manage its energy security and innovate toward sustainable, low carbon growth.
This was emphasized by Asian Development Bank Vice-President Xiaoyu Zhao as he promotes the epxansion of Asia's solar energy generation.
Zhao was speaking at the opening of the 3rd meeting of the Asia Solar Energy Forum, set up to promote exchange of knowledge as part of the Asia Solar Energy Initiative, which aims to boost solar power use in the region by identifying and developing suitable projects.
ASEI aims to assist the implementation of 3,000 MW solar power in Asia and the Pacific over the next 3 years through solar project identification and development, provision of innovative financing, and knowledge management such as through the ASEF.
Many countries in Asia 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.
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," he said.
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