Bhopal, Sept. 8 -- 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 st...