The Asian Development Bank (ADB) is supporting three renewable energy projects in Madhya Pradesh that could attract up to $1 billion in private investment while helping the state expand clean energy and energy storage capacity.
The initiative is part of ADB’s first transaction advisory services agreement with India, under which the multilateral development bank will help structure renewable energy projects through public-private partnerships (PPP).
Shajapur Solar and Battery Project
One of the projects involves a solar power generation and battery energy storage facility at Shajapur. The project is designed to support electricity supply during peak-demand periods and improve grid stability.
ADB will work as a transaction advisor to help Madhya Pradesh develop bankable PPP projects and create conditions for greater private-sector participation.
Focus on Private Investment
ADB Country Director for India Mio Oka said private capital can play an important role in meeting India’s growing energy requirements, provided projects are structured to make them attractive for investors.
Through its advisory support, ADB aims to help the state bring in private investment, demonstrate viable clean-energy models and develop projects that can be scaled across Madhya Pradesh.
Strengthening Renewable Energy Capacity
The proposed projects are expected to improve grid reliability and peak-hour power supply, particularly when solar generation is unavailable.
Madhya Pradesh has set a target of meeting 50% of its electricity demand from renewable energy sources by 2030, with increased emphasis on renewable generation and energy storage.
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Building Scalable Clean Energy Models
The ADB-backed initiative is expected to provide Madhya Pradesh with a stronger framework for developing renewable energy infrastructure through PPPs. By combining public-sector planning with private capital and technical expertise, the projects could support the state’s longer-term clean energy and storage ambitions.