This report provides information on the development of the solar energy sector in Asia and the Pacific, including investment opportunities and challenges. It also gives an overview of how the Asia Solar Energy Initiative (ASEI), set up by the Asia Development Bank, aims to facilitate the development and deployment of 3,000 megawatts of solar power generation projects in the region by 2013.

Challenges outlined in the report include limited energy distribution technology that can help transmit power to populated areas; the high costs of solar energy development and lack of access to long-term financing; weak institutional capacity; and limited knowledge sharing.

The report concludes that the ASEI can drive down costs, act as a catalyst for solar innovation and serve as a model for other regions that hold similar solar energy potential, such as northern Africa, Latin America and the Caribbean. It highlights the Asia Accelerated Solar Energy Development Fund, a financing mechanism set up specifically to support the preparation of solar power projects in Asian countries.