Indore plans India's first retail municipal green bond for solar plant
POWER & RENEWABLE ENERGY

Indore plans India's first retail municipal green bond for solar plant

Indore is planning to issue the nation’s first local government bond targeting individual investors, with proceeds used to fund a solar power project. Indore Municipal Corp. seeks to raise as much as Rs 2.60 billion ($31.8 million) via a 10-year bond sale next month, according to Divyank Singh, CEO of Indore Smart City, who is working with various stakeholders to finalise the offering.

The offering from Indore, which is in the central state of Madhya Pradesh, is also set to be the country’s maiden municipal green bond designed for retail investors. The issuer has mandated A K Capital Services and SBI Capital Markets as lead managers of the offering, Singh said.

The 60 MW solar plant will be built near Indore at a cost of Rs 3 billion, Singh said, adding that it will help the city save an electricity bill of as much as Rs 250 million a month.

The green debt sale is occurring at a time when the World Bank has estimated that Asia’s third-largest economy will need to invest $840 billion over the next 15 years on urban infrastructure to meet demand from a fast-growing urban population.

Also Read
Indore, Kohima, Warangal win global ‘play city’ awards
UP team visits Indore to study solid waste management

Indore is planning to issue the nation’s first local government bond targeting individual investors, with proceeds used to fund a solar power project. Indore Municipal Corp. seeks to raise as much as Rs 2.60 billion ($31.8 million) via a 10-year bond sale next month, according to Divyank Singh, CEO of Indore Smart City, who is working with various stakeholders to finalise the offering. The offering from Indore, which is in the central state of Madhya Pradesh, is also set to be the country’s maiden municipal green bond designed for retail investors. The issuer has mandated A K Capital Services and SBI Capital Markets as lead managers of the offering, Singh said. The 60 MW solar plant will be built near Indore at a cost of Rs 3 billion, Singh said, adding that it will help the city save an electricity bill of as much as Rs 250 million a month. The green debt sale is occurring at a time when the World Bank has estimated that Asia’s third-largest economy will need to invest $840 billion over the next 15 years on urban infrastructure to meet demand from a fast-growing urban population. Also Read Indore, Kohima, Warangal win global ‘play city’ awards UP team visits Indore to study solid waste management

Next Story
Infrastructure Urban

What Industry Wants!

The construction industry is gearing up for Budget 2025 with high expectations. As one of India’s key economic drivers, the sector is eagerly anticipating reforms and policies to address pressing challenges such as high input costs, funding gaps, and sustainability demands. Industry leaders across real estate, infrastructure, construction materials, and logistics have shared their wishlists, urging the government to focus on GST rationalization, increased CAPEX, and green initiatives.This year’s budget presents an opportunity for the government to not only tackle existing bottlenecks but a..

Next Story
Infrastructure Urban

Messe Stuttgart, Startup India Tie-Up to Boost Funding

The logistics market in India is poised for significant growth, with a projected revenue of $357.3 billion by 2030. Despite this huge potential, a recent McKinsey & Company report highlights the decline in logistics funding following the pandemic that remains a significant concern. After receiving unprecedented funding of $25.6 billion in 2021, venture capital investment in logistics startups fell sharply to $2.9 billion in 2023—a nearly 90 per cent decrease, marking the lowest since 2015. This pullback from investors is attributed to several factors, including high interest rates, a glo..

Next Story
Infrastructure Transport

JK Tyre Strengthens Road Safety Commitment

Reinforcing its unwavering commitment to road safety, JK Tyre & Industries, a leader in the tyre manufacturing industry, partnered with the Delhi Traffic Police to organise a comprehensive Road Safety Awareness Week. This initiative, held as part of National Road Safety Month (January 1–31, 2025) spearheaded by the Ministry of Road Transport and Highways (MoRTH), aimed to foster responsible driving habits and reduce road accidents. Under the theme ‘Sadak Suraksha Jeevan Raksha,’ the initiative commenced on January 16, 2025, at the Delhi Police Traffic Training Park, BKS. The program feat..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000