World Bank agrees to limit financing of coal-fired power

The World Bank has agreed to limit financing of coal-fired power plants to “rare circumstances” as part of a new energy strategy aimed at tackling climate change.

The Washington-based global development institution said in its "Energy Sector Directions Paper," updated every 10 years, that it will amend its lending policies for new coal-fired power projects, restricting financial support to countries that have "no feasible alternatives" to coal, as it seeks to balance environmental efforts with the energy needs of poor countries.

World Bank

The World Bank has over the years argued that funding coal-fired power plants is sometimes necessary to bring energy to the world's poorest nations and to help them eradicate poverty, so while a tougher stance has been adopted, there still appears to be wriggle room in order to facilitate countries with no alternative in terms of energy security and the combatting of poverty.

Analysts say coal is often the cheapest energy source in places like Kosovo, where the World Bank is mulling whether to support the country's plans for a coal-fired power plant.

In its latest paper, the World Bank also backed increased support for hydroelectric power, reversing its decision to abandon those projects in the 1990s under pressure from aid groups that warned they would displace people.

For more coal-fired power generation news

Recommend this article Recommend this article () Yo recommended this article Yo recommended this article ()
Follow Power Engineering International on Twitter

Editor's Picks

Borwind

Siemens to lead major grid connection project

Siemens has been chosen to lead a consortium responsible for constructing and installing an offshore wind connection in th...
Rajendra Pachauri

UN advocates tripling of renewables and nuclear energy

A report from the United Nations Intergovernmental Panel on Climate Change (IPCC) has warned that the world needs to drast...
Temelin NPP

$15bn Czech nuclear power project cancelled

The president of the Czech Republic, Milos Zeman, has called for a $15bn tender designated for the expansion of the countr...
Dr Joachim Hein

Brussels and Berlin actions on renewables welcomed by German business lobby

The Association of German Industry, or Bundesverband der Deutschen Industrie (BDE), has expressed relief at the news that ...
Maria van der Hoeven

IEA praises Austria for ‘balanced’ energy policy

The International Energy Agency focused on Austria for its 2014 country review, launched on Wednesday, and while fulsome i...

PEI Magazine Issues



>> Current Issue           >> Past Issues

Latest Wire News

Artesyn Embedded Technologies Announces First Titanium Efficiency Front End Power Supply

Artesyn Embedded Technologies Announces First Titanium Efficiency Front End Power Supply

Intergraph(R) Webinar on April 24th to Demonstrate CADWorx(R) E&I Automation of Project Documentation for Electrical and Instrumentation

Intergraph(R) Webinar on April 24th to Demonstrate CADWorx(R) E&I Automation of Project Docu...

Woodward Reports Second Quarter and Six-Month Fiscal Year 2014 Results

Woodward Reports Second Quarter and Six-Month Fiscal Year 2014 Results

Covanta Holding Corporation Reports 2014 First Quarter Results and Affirms 2014 Guidance

Covanta Holding Corporation Reports 2014 First Quarter Results and Affirms 2014 Guidance

Energy Sector Demand Strong for Traditional Satellite Capacity

Energy Sector Demand Strong for Traditional Satellite Capacity

Editorial Guides

How to cut your OPEX

How to cut your OPEX In a constantly evolving electricity market, factors such as over capacity and low coal costs can pu...

Alstom Editorial Guide: Thailand to showcase latest upgrade of Alstom's GT26 in combined-cycle

Read all about Alstom's new advanced GT26 gas turbine in the North Bangkok CCPP expansion project online with the Power En...

PLEXOS® Integrated Energy Model – Leading the Field in Energy Market Modelling

PLEXOS® Integrated Energy Modelling is an advanced software tool that employs the latest mathematical programming methods ...

Power Engineering International

Whitepapers

Evaluating cogeneration for your facility: A look at the potential energy-efficiency, economic and environmental benefits

The energy-efficiency, economic and environmental benefits of cogeneration are the subject of this in-depth white paper. The paper argues that producing electricity and heat/cooling from the same f...

The Effect of Moisture on the Breakdown Voltage of Transformer Oil

Power transformers utilize oil as a heat transfer medium and a dielectric material, together with cellulose. Breakdown voltage (dielectric strength) is one of the most important parameters of trans...

Improving Mission Critical Cooling Systems With More Reliable Level Sensing

The choice of coolant level sensor may seem like an insignificant detail when designing complex machinery such as emergency generators and cranes, but if this sensor fails, the operator has no warn...

Steps Towards a Low Carbon Future: Solutions and Technologies That Will Support the Global Revolution Required

A smart grid is becoming more and more essential as clean energy becomes more dominant. In addition, the demand for electricity is expected to treble the ability to supply it over the next decade. ...

Latest Digital Edition

  Power
  Engineering
  International
Look Inside >
Cover
Current Issue

Article Archives for Power Engineering International Magazine

Latest Energy Jobs