ADB to mobilise $1b for green projects in India

The Asian Development Bank (ADB) has committed to mobilizing up to $1 billion for renewable energy projects in Madhya Pradesh, India, through a new public-private partnership (PPP) agreement signed in Bhopal. This marks ADB's inaugural transaction advisory services (TAS) mandate in India, demonstrating the lender's intent to help structure and execute clean energy initiatives across the country.

The agreement, signed between ADB Country Director for India, Mio Oka, and Madhya Pradesh Chief Minister Mohan Yadav, focuses on three key solar power and battery storage projects aimed at improving grid stability and addressing peak electricity demands. Oka emphasized the need for private capital to meet India's growing energy requirements, stating that public resources alone cannot bridge the gap in clean infrastructure financing.

By serving as a transaction advisor for these PPP projects, ADB aims to create scalable models for clean energy infrastructure in Madhya Pradesh, aligning with the state's Renewable Energy Policy 2025. The projects seek to balance local distribution networks, supplying electricity during peak hours and maintaining supply reliability when solar generation is offline.

This marks the first major infrastructure development under ADB's TAS mandate in India, signaling the institution's commitment to accelerating clean energy investment across the nation.