IMC’s solar plant ‘powered’ by green bonds inaugurated by CM

Indore: The 60 MW captive solar power plant set up by Indore Municipal Corporation (IMC) to power its Narmada water pumping station at Jalud (Khargone district) was inaugurated by chief minister Mohan Yadav on Wednesday.The plant, set up at a cost of approximately Rs 271 crore, was funded mostly by green bonds raised by IMC, making it the first municipal body in India to fund such a project through the bonds. The plant will also save the civic body up to Rs 4 crore monthly in electricity bills."This initiative has become an excellent example of green energy in the entire nation. IMC will encourage other civic bodies to take such initiatives to reduce their heavy expenses like the one on electricity bills. People have come forward to buy the bonds and become ‘partners' in the development works," Yadav said while speaking on the occasion.IMC had raised Rs 244 crore through the green bonds while Centre had provided Rs 42 crore for the project.Yadav said that electricity generated in Madhya Pradesh was now being supplied to other states. "Our government is working towards ensuring uninterrupted daytime electricity supply for farmers" he said.