ADB Clean Energy Investments Exceed 2013 Goal
June 2014: The Asian Development Bank (ADB) has released a report titled ‘2013 Clean Energy Investments: Project Summaries,' which highlights that ADB's total investments in clean energy in 2013 amounted to US$2.3 billion, exceeding the annual target of US$2 billion. The report shows an increased focus on the public sector, with public or sovereign loans making up 72% of the total figure.
The 2013 investments will translate into 1,390 megawatts (MW) of renewable energy generation capacity, 1,987 gigawatt-hours (GWh) of savings due to energy efficiency upgrades, 5.2 terawatt-hours (TWh) generated per year from renewable sources such as solar, wind and hydro, and an avoided 7 million tons of CO2-equivalent per year.
Projects summarized in the report include: a 600 MW supercritical coal-fired unit in Pakistan; a 240 MW hydropower rehabilitation in Tajikistan; a solar power thermal project in China; solar and wind installation in the Federated States of Micronesia; power sector rehabilitation in Samoa; and 57 MW of solar power capacity installed in Thailand. In addition, many projects focused on energy efficiency, totaling US$853 million. Though this total represents a decrease over the 2012 figure, ADB's investment in energy efficiency has overall been trending upward since 2010.
In 2008, ADB announced its target of investing US$2 billion in clean energy annually by 2013. ADB met that target in 2011 and thus pledged to continue meeting the target through 2013. In 2009, ADB created an energy strategy aimed at capturing developing countries' high interest and appetite for clean energy in the region. The report was prepared by ADB's Clean Energy Program. [ADB Publication Webpage] [Publication: 2013 Clean Energy Investments: Project Summaries]