Indore Municipal Corporation Commissions 60 MW Solar Plant Funded Through Green Bonds

Indore Municipal Corporation has commissioned a 60 MW captive solar power plant in Jalud, Khargone district, marking a significant step in municipal renewable energy adoption and green finance innovation in India.

The solar project was inaugurated by Mohan Yadav and is being described as one of India’s first municipal renewable energy projects financed through green bonds. The project was developed at a total cost of ₹271.16 crore, of which ₹244 crore was raised by IMC through green bonds, while an additional ₹42 crore was supported by the central government.

The captive solar plant has been developed to power the civic body’s Narmada water pumping operations, one of the municipality’s largest energy-consuming services. Officials said the plant is expected to significantly reduce IMC’s electricity expenditure, with estimated monthly savings of around ₹4–5 crore by replacing conventional grid power with solar energy.

The facility is projected to generate approximately 9.6 crore units of electricity annually and reduce nearly 1.46 lakh tonnes of carbon emissions every year, strengthening Indore’s climate and sustainability goals. The project is also expected to create carbon credit revenue for the municipal corporation, adding another financial benefit to the renewable energy initiative.

State officials said the project sets a new benchmark for urban local bodies by integrating renewable energy with essential civic infrastructure while leveraging innovative financing models to improve long-term operational sustainability.

The commissioning of the solar plant is expected to serve as a model for other municipalities looking to reduce energy costs, improve energy security, and advance urban decarbonisation through clean energy infrastructure.