World Bank plans to limit coal-fired power plant financing to "rare circumstances"

World Bank limiting financing in coal-fired power plants rare circumstances President Barack Obama

The World Bank is planning to limit financing provided to coal-fired power plants to “rare circumstances,” according to Reuters. The move was included in a 39-page strategy document released a day after President Barack Obama said the U.S. would stop investing in coal projects overseas.

According to Reuters, the World Bank’s decision is part of the global financial body’s efforts to address climate change, and the World Bank Group will “help clients identify alternatives to coal power as they make transitions to sustainable energy.”

The plan allows the bank to provide financial support for coal-fired power generation projects in circumstances where there is no other feasible options that would meet basic energy needs and other sources of financing are absent, the report states.

The paper has been submitted to board members for their review in preparation for a discussion on July 19 and could be revised before then, according to Reuters.

Read more financial news

Sponsored by FLSmidth
Related Articles

NRG seeks Texas approval to buy power plant being moved from Mississippi

NRG Texas Power LLC applied March 27 at the Public Utility Commission of Texas for approval of the proposed purchase of all of the issued and outstanding membership interests in PHR Holdings LLC from BTEC New Albany LLC, which currently owns I00% of the membership interests in PHR.

VIDEO: One nuclear power steam generator’s trip to the Summer plant site

New video from Westinghouse Electric shows the journey the one steam generator took from the port of Charleston, South Carolina to the site of two Westinghouse AP1000 nuclear reactors at the V.C. Summer site in Jenkensville.

Follow Power Engineering on Twitter
Latest News

EIA: Coal-fired generation alive and well in the coming decade

Coal-fired power generation from existing plants will increase through 2025, this according t...

Report: Nuke dump radiation leak could have been prevented

A radiation leak that forced the indefinite closure of the federal government's only undergro...

Areva’s nuclear reactor vessel flaws may be “costly”

The French nuclear regulator says anomalies found in Areva’s nuclear reactor technology are “...

Southern Power acquires 32MW solar project from First Solar

Southern Co. (NYSE: SO) subsidiary, Southern Power, has acquired controlling interest in...

Second robot completes survey of Fukushima reactor containment vessel

A second shape-shifting robot completed a survey from inside of the Fukushima Daiichi nuclear...

PacifiCorp considers joining California ISO

PacifiCorp signed a memorandum of understanding to explore full participation in the Californ...

Herbert: Uranium shouldn't be in Utah before federal review

Gov. Gary Herbert said Thursday that he wants federal regulators to review how hazardous a ty...

Environmentalists press for bill to expand solar power

Environmentalists are urging lawmakers to back a bill they say would help more residents inve...
Power Engineering Current Issue
03/01/2015
Volume 119, Issue 3
1503pe-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Power Industry Wire News

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors

Magnum Hunter Resources Chairman and CEO to Present at IPAA OGIS New York 2015

Magnum Hunter Resources Chairman and CEO to Present at IPAA OGIS New York 2015

GEI Global Energy Corp. Explores Solar Opportunities

GEI Global Energy Corp. Explores Solar Opportunities

Envision Solar Installs Solar-Powered EV Charging Stations in San Francisco as Part of "Driving on Sunshine" Campaign

Envision Solar Installs Solar-Powered EV Charging Stations in San Francisco as Part of ...

ZBB Energy and Solar Power, Inc. (SPI) Announce Global Strategic Partnership With an Initial Supply Agreement Valued at Between $80 Million and $120 Million

ZBB Energy and Solar Power, Inc. (SPI) Announce Global Strategic Partnership With an In...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>