Asian Development Bank (ADB) will help attract USD one bn in investment for renewable energy projects in Madhya Pradesh, the bank said. The support is intended to bring together state authorities, developers and financiers to identify bankable projects and ease capital flows. ADB will provide advisory services and help structure deals to make them more attractive to international and domestic investors.

The programme will focus on solar power and energy storage as priority areas, alongside grid integration and transmission upgrades to accommodate variable generation. Technical assistance will include project preparation, regulatory advice and capacity building for state agencies. ADB will work to de-risk investments through guarantees, blended finance and co-financing arrangements where appropriate.

Officials expect the initiative to catalyse private sector participation and spur local supply chains, including manufacturing and operations services. The bank aims to support the development of corporate power purchase agreements and auction-ready projects to shorten time to financial close. Emphasis will be placed on sustainable development outcomes, including job creation and reductions in greenhouse gas emissions.

Implementation is expected to proceed through staged interventions that combine policy reform, investor outreach and transaction advisory work. The partnership will seek to align state planning with national renewable targets and to leverage concessional finance to lower the cost of capital. If successful, the initiative could accelerate deployment of clean energy in the state and help mobilise further capital into India’s renewable sector.

Stakeholders from industry and government will be engaged through workshops and investor forums to present pipeline projects and discuss regulatory improvements. ADB will also assist in developing monitoring frameworks to track project performance and environmental safeguards. The approach aims to build investor confidence over the medium term and create replicable models for other states seeking to scale renewable deployment.