The Asian Development Bank (ADB) has signed a transaction advisory agreement with the Government of Madhya Pradesh to support the development of renewable energy public?private partnership projects in the state. The mandate, described by ADB as its first transaction advisory services assignment in India, is expected to attract up to US dollars one billion (1 bn) in private investment. The agreement was signed in Bhopal by ADB Country Director for India Mio Oka in the presence of Madhya Pradesh Chief Minister Mohan Yadav. Under the engagement ADB will assist in structuring and rolling out three clean energy projects across the state.

As transaction adviser for projects developed under the PPP mode, the bank will help prepare project documentation, structure financing and manage procurement. The project pipeline includes a solar power generation installation and an associated battery energy storage facility at Shajapur, intended to address peak electricity requirements and strengthen overall grid stability. The infrastructure is designed to supply electricity during peak hours and to maintain reliability when solar generation is offline.

The work aligns with the Madhya Pradesh Renewable Energy Policy 2025, which sets a target for renewables to meet 50 per cent of the state's electricity demand by 2030. ADB will draw on its international transaction advisory experience in project preparation, structuring and procurement across Asia and the Pacific to design commercially viable and bankable tenders. The regional development institution said it has maintained an operational relationship with Madhya Pradesh for more than 25 years across various development priorities, including capital investments in energy infrastructure.

The advisory engagement is intended to crowd in private capital, demonstrate replicable models and make markets more investable, the bank indicated when announcing the mandate. Officials view the initiative as a step towards closing financing gaps in clean infrastructure and creating scalable approaches to clean energy deployment across the state. The transaction advisory pact represents a milestone in the multilateral lender's work in India and in efforts to mobilise private finance for clean energy.