ADB To Support INR 1 Billion Renewable Energy PPP Projects In Madhya Pradesh

The Asian Development Bank (ADB) has signed an agreement with the Government of Madhya Pradesh to support the development of three renewable energy projects through public-private partnerships (PPP). The transaction advisory services agreement was signed in Bhopal by ADB Country Director for India Mio Oka in the presence of Madhya Pradesh Chief Minister Dr. Mohan Yadav.

This is ADB’s first transaction advisory services (TAS) agreement in India. The initiative is expected to attract up to $1 billion in private investment and support Madhya Pradesh’s clean energy and energy storage development plans.

Under the agreement, ADB will act as a transaction advisor to help the state structure, prepare, and procure the proposed renewable energy projects. One of the key projects includes a solar power generation facility combined with battery energy storage at Shajapur. The project is planned to help meet peak electricity demand and improve grid stability.

The projects are expected to strengthen the state’s power system by providing electricity during peak-demand periods and improving reliability when solar generation is unavailable. Battery storage will play an important role in balancing renewable power and supporting a more flexible electricity grid.

The initiative is aligned with Madhya Pradesh’s Renewable Energy Policy 2025, which aims to increase renewable energy and energy storage capacity. The policy targets meeting 50% of the state’s electricity demand through renewable energy by 2030.

ADB Country Director for India Mio Oka said public resources alone cannot meet India’s growing energy requirements and highlighted the need to make projects attractive to private investors. ADB’s advisory support will focus on developing bankable PPP projects using international practices in project preparation, financial structuring, and procurement.

ADB has partnered with Madhya Pradesh for more than 25 years across various sectors. Its latest initiative is expected to strengthen renewable energy infrastructure while creating opportunities for greater private sector participation in the state’s clean energy transition.