The construction of a 60 MW solar power plant in Khargone, Madhya Pradesh, is expected to be completed by the end of this year, according to an official from the Indore Municipal Corporation (IMC). The project, estimated to cost Rs 3.08 billion, is being built on 220 acres in Jalud village.
Of the total project cost, Rs 2.44 billion was raised by IMC through green bonds issued to the public in February last year. The solar plant is expected to reduce IMC’s monthly electricity bill by Rs 50 million, which is currently around Rs 250 million, primarily for pumping and distributing Narmada river water to Indore, located 80 km away from Jalud.