The Asian Development Bank (ADB) has signed transaction advisory services with the Government of Madhya Pradesh for the development of three renewable energy projects in the state. The projects will be developed through public-private partnerships (PPP) and are expected to attract up to $1 billion in private investment. Under the agreement, ADB will serve as a transaction advisor for the projects.
One of the projects includes a solar power generation and battery energy storage facility at Shajapur to help meet peak electricity demand and improve grid stability. Furthermore, the projects align with Madhya Pradesh’s Renewable Energy Policy 2025, which aims to increase renewable energy and storage capacity so renewable sources can meet 50 per cent of the state’s electricity demand by 2030.
Earlier, in July 2026, ADB approved a $160 million loan to expand solar power generation in Bhutan through the deployment of at least 310 MW of new solar capacity. The project includes 120 MW Wobthang, 40 MW Pedseling, and 150 MW Dramthang solar farms.
