ADB, MP Govt Sign First India TAS Agreement, Target Up to USD 1 Bn In Private Investment For Renewable Energy Projects

Bhopal, Sep 8 (KNN) The Asian Development Bank (ADB) has signed its first transaction advisory services (TAS) agreement in India with the Madhya Pradesh government to support the development of three renewable energy projects expected to attract up to USD 1 billion in private investment.

ADB Country Director for India Mio Oka signed the agreement in Bhopal in the presence of Madhya Pradesh Chief Minister Mohan Yadav, ADB said in a release.

Under the agreement, ADB will act as transaction advisor for projects to be developed through the public-private partnership (PPP) route. The project pipeline includes a solar power generation and battery energy storage facility in Shajapur aimed at meeting peak electricity demand and improving grid stability.

“Public resources alone cannot meet India’s growing energy needs. Private capital exists, but markets need to be made investable,” Oka noted.

The projects are expected to strengthen power reliability by supplying electricity during peak hours and supporting the grid when solar generation is unavailable.

The initiative is aligned with the Madhya Pradesh Renewable Energy Policy 2025, which aims to expand renewable energy and storage capacity so that renewable sources meet 50 per cent of the state’s electricity demand by 2030.

ADB’s TAS programme assists governments in preparing and structuring commercially viable PPP projects, including project preparation, transaction structuring and procurement, based on international best practices.

ADB highlighted that its engagement with Madhya Pradesh spans more than 25 years and covers various development priorities, including investments in energy infrastructure.

(KNN Bureau)