Asian Development Bank and Madhya Pradesh sign renewable energy pact

The Asian Development Bank (ADB) has signed an agreement with the Government of Madhya Pradesh to support the development of renewable energy public-private partnership (PPP) projects. This initiative marks the ADB’s first transaction advisory services mandate in India and aims to attract up to USD 1 billion in private investment.

Under the agreement, the ADB will act as a transaction advisor to structure and implement three clean energy projects across the state. A primary component of the pipeline is a solar power generation facility paired with a battery energy storage system in Shajapur. This project is designed to address peak electricity requirements and improve grid stability by ensuring a reliable supply when solar generation is offline.

ADB Country Director for India Mio Oka stated that while private capital exists, markets must be made investable to bridge the financing gap for clean infrastructure. The partnership seeks to create scalable models for clean energy that align with the state’s renewable energy policies.