The Global Environment Facility of World Bank for the first time has decided to provide money to rehabilitate power plants. The plants would help to meet the increasing power demand of the country. I am quoting from the report published in Business Standard:
The Global Environment Facility (GEF), the green wing of the World Bank set up under the United Nations Framework for Climate Change, will, for the first time in its 15 year existence, fund coal power projects beginning with India.
The GEF today announced a grant of $45.4 million for the power ministry to rehabilitate three of its coal fired power plants in order to reduce carbon emissions.
However, new GEF CEO Monique Barbut, who announced the grant today, said though the UN had made it responsible for assisting developing countries to reduce emissions, GEF was unable to decide on coal powered plants till recently.
According to power ministry officials, the rehabilitation would lead to 10 to 15 per cent improvement in power generation, besides reduction in coal emissions.
Barbut said that GEF would use the experience gathered in
Till now, there has been a huge debate about coal power. Environmentalists have said that coal fired power plant is a major polluter. On the other hand, it is also a tragic truth is that in many countries including
Related articles:
Comment Preview