USAID, ADB to invest US$7bn to add 6GW of renewables in Asia-Pacific

Published onJune 20, 2019

The United States Agency for International Development (USAID) has partnered with the Asian Development Bank (ADB) to invest heavily in clean energy projects, energy efficiency and power sector reform in the Asia-Pacific region. The partnership, signed at the Asia Clean Energy Forum (ACEF) being held at ADB headquarters in Manila, plans to mobilise US$7 billion of investment to add 6GW of renewables capacity over the next five years. It also wants to boost regional energy trade by 10% in that period…cheaper finance from development players is expected to shorten the renewable transition of many countries and kickstart the local small-scale PV and storage market…