ADB will host and manage the Sustainable Energy for All hub with its partners, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), and the United Nations Development Programme (UNDP).
Energy demand is increasing in Asia, and the ADB says by 2035 developing countries in the region will account for 56% of global energy use, up from 34% in 2010.
The International Energy Agency estimates that Asia and the Pacific will need over $200bn in energy investments by 2030.
The new hub intends to provide universal access to clean energy by 2030 and double the annual global rate of improvement in energy efficiency as well as the share of renewable energy in the worldwide energy mix by then.
ADB vice-president for knowledge management and sustainable development Bindu Lohani said developing Asia is home to the majority of the world’s energy poor, where over 600 million people have no access to electricity and about 1.8 billion others still use firewood and charcoal at home.
"But we can overcome energy poverty through sustainable, low-carbon energy means, and through this new hub we are gathering together investors, innovators, and experts to make this happen," Lohania added.
ADB, which has invested $2.3bn in clean energy in 2013, is planning to spend $2bn a year.
