Indore becomes first Municipal Corporation to launch Green Bond

• Indore becomes the first municipal corporation to launch green bondsIndore has become the first municipal corporation to launch green bonds.

• Indore has become the first municipal corporation in India to launch a green bond to raise Rs 244 crore for a 60 MW solar plant at its water pumping station.

• The public issue of green bonds will open from February 10-13. The issue will be listed on the National Stock Exchange.

• Indore Municipal Corporation will set up a 60 MW solar plant to provide electricity to Juladh Pumping Station with an investment of Rs 305 crore.

• The Central Government has announced that Sovereign Green Bonds worth Rs 16,000 crore will be issued in the current financial year.

• The main objective of green bonds is to raise resources for green infrastructure projects in the country.