Greens are seeing red this week after the World Bank approved partial financing for a $4.2 billion coal-fired power station in India.
The 4,000 MW plant will provide crucial power for millions of Indians, prove a much-needed boost for industry and use “super-critical” technology that will make it India’s most-efficient coal-fired plant.
The Bank’s board approved $450 million in loans through its International Finance Corp for the Tata Mundra project and the IFC said it looked at many alternative ideas, including wind and solar, but found the giant coal power station was the best solution.
The volume of emissions from the plant will be about 40 percent less than existing coal-fired plants in India but it will still produce up to 23 million tonnes of carbon emissions each year.
And that’s angered environmental groups who say the World Bank is failing to help fight global warming by backing polluting projects. The Bank said using solar or wind for the project instead of coal would have been just too expensive to meet India’s vast appetite for electricity.