The Asian Development Bank (ADB) will conduct a study into its Energy Policy, to promote greater use of clean energy in Asia and Pacific and boost the region''s energy security, an ADB report said on Friday.

    Backed by a technical assistance grant of 1 million U.S. dollars, the study will address a broad range of growing challenges in the energy sector, said the report.

    With Asia''s energy consumption taking a heavy toll on the environment, ADB is planning to develop a new strategy to guide energy sector operations for the next five years.

    According to the International Energy Agency, Asia''s current annual energy consumption of over 2,100 billion tons of oil equivalent is expected to more than double by 2025.

    A team of energy specialists will develop and recommend strategies that ADB will adopt in its lending operations from 2007 to 2012 to enhance the effectiveness of its energy sector assistance. The team will build on the recently-launched ADB Energy Efficiency Initiative which plans an annual allocation of 1 billion U.S. dollars to finance clean energy projects within the next two to three years, according to the report.

    Under the grant project, ADB will also produce a book that will provide developing countries with comprehensive energy data and available options. It will be jointly prepared with a group of reputable energy research institutions, including the International Energy Agency, the report said.

    ADB has been involved in the energy sector since the early 1980s. The first energy policy was approved in 1981, just after the second oil crisis of 1979. - Xinhua News