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Growing number of Global Financial institutions funding Solar – ADB to support solar with a $9 Billion Initiative

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Large multilateral developmental institutions are boosting adoption of solar energy through large scaling funding efforts.European Investment Bank recently announced more than Euro 500 million in financing for solar projects and CDB announced multi billion dollars lines of credit with Suntech and Trina Solar . ADB today also joined these efforts with a large scale funding effort to support solar .

Asian Development Bank launches $9 bln solar energy initiative – Reuters

The Asian Development Bank (ADB) on Monday launched an ambitious project it hopes will attract $6.75 billion of private investment into solar energy projects in the region over the next three years.

The 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.


Sneha Shah

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