Indore: The 60 MW captive solar power plant established by the Indore Municipal Corporation (IMC) to supply electricity to its Narmada water pumping station at Jalud in Khargone district was officially inaugurated by Chief Minister Mohan Yadav on Wednesday.
Green Bonds Fund Project
The plant, constructed at an approximate cost of Rs 271 crore, was primarily financed through green bonds issued by IMC. This makes the civic body the first municipality in India to fund such a project using green bonds. The solar facility is expected to save the corporation up to Rs 4 crore per month on electricity expenses.
CM Highlights National Example
Speaking at the inauguration ceremony, Chief Minister Yadav remarked, "This initiative has become an excellent example of green energy for the entire nation. IMC will encourage other civic bodies to adopt similar initiatives to reduce their heavy expenditures, such as electricity bills. People have come forward to purchase these bonds and become partners in development works."
IMC raised Rs 244 crore through green bonds, while the central government contributed Rs 42 crore for the project.
Electricity Supply Expansion
Yadav further noted that electricity generated in Madhya Pradesh is now being supplied to other states. "Our government is working towards ensuring uninterrupted daytime electricity supply for farmers," he added.
