The Asian Development Bank (ADB), based in Manila, is currently in process of establishing a non-profit organisation to promote and accelerate the uptake of solar power plantsA photovoltaic plant is a power station that generates electrical power by using photovoltaic cells; usually such a power plant feeds electricity into the public grid.
Grid-connected photovoltaic systems are connected to the public grid through an inverter and feed-in electricity into the ... across Asia. Last week in Bangkok the first Preparatory Committee meeting was held focused on the new solar organisation’s charter and work programme. REEEPThe Renewable Energy & Energy Efficiency Partnership (REEEP) is a non-profit, specialist change agent aiming to catalyse the market for renewable energy and energy efficiency, with a primary focus on emerging markets and developing countries. is one of the members of the preparatory committee.

It is anticipated that the Asian Solar EnergySolar energy is the light and radiant heat from the Sun that influences Earth's climate and weather and sustains life. For solar energy as a source for renewable energy, look up photovoltaics (solar power) or solar thermal energy. Forum (ASEF) would be operational by April 2011.

The ASEF will be a membership organisation and it would focus on supporting private sector activities in order to gridA grid is a network of transmission lines, usually to distribute electric power . connect 3,000MW of solar powerPhotovoltaics (PV) is the field of technology and research related to the application of solar cells for energy by converting sunlight directly into electricity. Solar power is sometimes used as a synonym to refer to electricity generated from solar radiation. (either PV or CSP) by 2013. This would require more than $9 billion in project finance and in May the ADB committed to provide $2.25 billion in finance to achieve the installed capacity target.

Promoting the availability and use of clean energy is one of the ADB’s highest priorities. Last year the ADB provided nearly $1.3 billion for projects with clean energyThe ability to perform work, mainly kinetic, potential, thermal energy, but also in forms of gravitational, sound, elastic and electromagnetic energy. components, exceeding its $1 billion target for the second year in a row. Starting in 2013, this target will increase to $2 billion a year.

The day before the ASEF Preparatory Committee meeting, the ADB announced that it is issuing its first Clean Energy Bond, in order to support its renewable energyRenewable energy is power generated from infinite sources, such as wind or solar power. Conventional energy is generated from finite sources, such as natural gas or fossil oil. projects in Asia and the Pacific. The bond is expected to have four tranches, two denominated in Brazilian reals, one in Turkish lira and one in Australian dollars. The ADB has committed to providing at least an equal amount of funding as raised by the Clean Energy Bond. The issuance is targeted at Japanese retail investors, will be arranged by HSBC Securities and it will be distributed in Japan by more than 20 securities companies.