Bhopal, May 5 (IANS) The Madhya Pradesh government on Tuesday unveiled a pioneering initiative to boost renewable energy and citizen participation by offering an assured eight per cent return on green bonds issued against a newly inaugurated solar power plant in Jalood village of Khargone district, officials said.

The project marks a significant step in the state’s renewable energy journey, combining innovation with community involvement.

After a Cabinet meeting, State MSMEs Minister, Chetanya Kumar Kashyap, highlighted that while large-scale solar plants have been consistently established across the state, this particular facility stands out because it has been set up by the Indore Municipal Corporation.

“The electricity generated will be directly utilised by the corporation, making it a model of effective private sector participation in public infrastructure,” he said.

“Both the state and Central governments have approved the issuance of green bonds for this project. These bonds are available in denominations starting at Rs 100,000 and guarantee an eight per cent return, making them an attractive investment option for local citizens,” he added.

Kashyap emphasised that this initiative not only strengthens the financial base of the municipal corporation but also empowers residents to contribute directly to sustainable development.

The Minister also noted that this model will be extended to other local bodies across Madhya Pradesh.

By issuing similar bonds, municipalities will be able to finance solar power plants and other renewable projects, thereby reducing dependence on traditional energy sources and promoting environmental sustainability.

This approach reflects a broader vision of integrating financial innovation with green energy expansion.

It encourages public participation in infrastructure development while ensuring tangible returns for investors.

The Jalood solar plant, backed by citizen-funded bonds, is expected to inspire similar projects across the state, reinforcing Madhya Pradesh’s commitment to clean energy and progressive governance.

With its assured returns and focus on community-driven growth, the green bond initiative is being hailed as a landmark decision that blends economic opportunity with ecological responsibility.

It positions Madhya Pradesh as a leader in renewable energy financing, setting an example for other states to follow.

–IANS

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