ADB Signs First India Transaction Advisory Pact With MP Government

Why in News?

The Asian Development Bank (ADB) and the Government of Madhya Pradesh signed India's first Transaction Advisory Pact to mobilize USD 1 billion for renewable energy.

Key Points

• This is the first Transaction Advisory Services (TAS) mandate signed by the Asian Development Bank in India.
• The pact aims to mobilise USD 1 billion in private investment through the PPP mode for three clean-energy projects in Madhya Pradesh.
• One project combines solar power generation with battery energy storage at Shajapur to improve grid stability and peak-time supply.
• The pact supports the Madhya Pradesh Renewable Energy Policy 2025, which targets 50% of electricity demand from renewables by 2030.

Exam Connect

• Asian Development Bank (ADB) → established 1966 → headquarters Mandaluyong, Philippines → promotes social and economic development in Asia