Overview
- IMC’s 60 MW solar plant, inaugurated Wednesday by Chief Minister Mohan Yadav in Jalud, is now positioned to power Indore’s water pumping system.
- Indore raised Rs 244 crore through a public green bond issue for the project, which officials tout as a first-of-its-kind municipal renewable build in India.
- City officials say the plant should trim the municipal electricity bill by about Rs 4 crore to Rs 5 crore each month for Narmada water pumping.
- The installation is expected to generate about 96 million units a year at an estimated Rs 3.50 per unit, compared with Rs 6 to Rs 9 for grid power.
- Officials project the plant will avoid roughly 1.46 lakh tonnes of CO2 each year and could bring in more than Rs 18 crore from carbon credits, while reports differ on total project cost between Rs 271.16 crore and Rs 308 crore.