The Asian Development Bank (ADB) has signed its first transaction advisory services (TAS) in India – an agreement with the Government of Madhya Pradesh in Bhopal to support the development of three renewable energy projects. ADB Country Director for India Mio Oka signed the agreement in the presence of the Chief Minister of Madhya Pradesh Dr. Mohan Yadav. The initiative is expected to attract up to $1 billion in private investment and contribute to the state’s clean energy and energy storage goals.
Under the agreement, ADB will serve as a transaction advisor for projects to be developed through public-private partnerships (PPP), including a solar power generation and battery energy storage facility at Shajapur designed to meet the state’s peak electricity demand and enhance grid stability.
“Public resources alone cannot meet India’s growing energy needs. Private capital exists, but markets need to be made investable,” said ADB Country Director for India Mio Oka. “By helping Madhya Pradesh to structure bankable PPP projects, ADB is helping to crowd in private investment, demonstrate what works, and create scalable models for clean energy infrastructure across the state.”
The projects are expected to strengthen grid stability by supporting peak-hour electricity supply and improving power reliability during periods when solar generation is unavailable. The projects support Madhya Pradesh’s Renewable Energy Policy 2025, which aims to expand the state’s renewable energy and storage capacity so renewable resources can meet 50% of its electricity demand by 2030.With a strong track record of supporting renewable energy PPP projects across diverse markets in Asia and the Pacific, ADB’s TAS helps governments develop bankable projects by applying international best practices in project preparation, structuring, and procurement.
ADB has partnered with Madhya Pradesh for more than 25 years across multiple sectors and continues to support the state’s development priorities, including energy infrastructure investments.
