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The Asian Development Bank (ADB) has this week launched an ambitious renewable energy project designed to attract billions of dollars of private investment and deploy around three gigawatts of solar power across the Asia and Pacific region within the next three years.As well as providing direct financing and stimulating private sector investment, ASEI is hoping to raise $500m from donor countries in order to reduce the high up-front capital costs of investing in solar energy.

The ADB failed to privde many specific details about the ASEI scheme, revealing only that the scheme aims to identify and develop large capacity solar projects across the region capable of generate 3GW of solar power by 2012.

The scheme will also establish and host an international knowledge-sharing platform known as the Solar Energy Forum, that will track solar development projects, discuss new solar power proposals and incentive mechanisms.

he bank said it hopes to attract investment from commercial banks and the private sector by making available a range of pre-approved projects through the ASEI. It added that it would also encourage “knowledge sharing” between the bank and private investors and develop new financial mechanisms designed to attract externtal investment.

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Finance minister Alistair Darling has said there will be no pre-election giveaways in the budget, with polling day expected on May 6, but he wants more investment to encourage future sources of economic growth after an 18-month recession of Sony-VGP-BPS8 .The green bank, designed to help finance projects such as railways, offshore wind power generation and eco-friendly waste management, will be half-funded from government asset sales with the remaining one billion pounds coming from the private sector.

“The high risk profile of these investments, which are in new and unproven technologies means an initial government investment is needed to draw in investors of HP Pavilion DV9000 battery ,” the source said.It is estimated that Britain needs well over 150 billion pounds to modernize its energy mix. It also has to meet climate change targets — cutting greenhouse gas emissions by a third and sourcing 15 percent of its energy from renewables by 2020.

The government could sell the rail franchise from London to the tunnel linking Britain to mainland Europe, the student loan book, a toll road crossing near London or betting company, the Tote, to finance the investment bank of acer aspire one battery , the source said.Policymakers have grown increasingly concerned that companies are still struggling to secure finance for investing in innovative areas even though the worst of the credit crunch is over and the banking system has stabilized.

Getting credit flowing freely again is regarded as crucial to engineering a sustainable recovery. Bank of England figures last week showed lending to firms shrunk at its fastest annual pace in at least a decade in January for HP Pavilion DV2000 battery .With government borrowing for 2009/10 expected to come in as much as 10 billion pounds below December’s 178 billion pound forecast, the budget on Wednesday could contain further small, targeted measures aimed at new industries.

However, with the budget deficit heading for a record 12 percent of gross domestic product this year, Darling is expected to bank most of the undershoot.

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