ADB's renewable energy projects in MP to attract $1 bln private investment
This story was originally published at 10:42 IST on 7 September 2026
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NEW DELHI – Asian Development Bank's initiative to support three renewable energy projects in Madhya Pradesh is likely to attract private investment up to $1 billion while contributing to the state's renewable energy policy for clean energy and energy storage goals, the multilateral development bank said Monday. This project is part of ADB's first transaction advisory services agreement with India.
"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," ADB said in a release.
According to the multilateral agency, public resources alone cannot meet India's growing energy needs. "Private capital exists, but markets need to be made investable," ADB's country director for India Mio Oka said. "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," Oka said.
These renewable projects will strengthen grid stability in the state by supporting peak-hour electricity supply and improving power reliability during periods when solar generation is unavailable. Madhya Pradesh aims to expand its renewable energy and storage capacity to be able to meet 50% of its electricity demand via renewable resources by 2030. ADB, via its transaction advisory services, helps governments in building renewable energy projects. End
US$1 = INR 94.39
Reported by Radhika Tiwari
Edited by Deepshikha Bhardwaj
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