New Delhi, Sept. 7 -- The Asian Development Bank (ADB) has entered into an agreement with the Government of Madhya Pradesh to support the development of renewable energy public-private partnership (PPP) projects in the state, an initiative expected to attract up to USD 1 billion in private investment.

According to ADB, the pact marks the multilateral lender's first transaction advisory services (TAS) mandate in India. Under the agreement signed in Bhopal by ADB Country Director for India Mio Oka in the presence of Madhya Pradesh Chief Minister Mohan Yadav today, the development bank supports the structuring and rollout of three clean energy projects across the state.

Under the terms of the engagement, the multilateral institution serves...