Skip to comments.EIB (European Investment Bank) signs €440-million loan guarantee for controversial coal plant
Posted on 12/21/2012 12:09:33 AM PST by Olog-hai
The European Investment Bank has signed a 440-million ($581 million) loan guarantee with the Slovenian government for a crisis-plagued 600 megawatt lignite TE 6 coal plant, but the deal could yet be sunk by concerns about the climate and corruption.
Although the EU is formally pledged to reduce carbon dioxide emissions across the continent to 80-95% of 1990 levels by 2050, European development banks are covering some two-thirds of the otanj plants 1.2 billion ($1.6 billion) costs.
Objections about irregularities in the plants tendering process have created one of many icebergs that the plants funders will need to navigate.
There is a solid chance they will be burning 'clean' coal.
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