18 June 2009: The World Bank approved a US$180 million loan to the Government of India, to renovate and modernize old, inefficient and polluting coal-fired power plants. The project, which is expected to lower carbon emissions and boost power production at these plants, is co-financed with a US$45.4 million grant from the Global Environment Facility (GEF).

“Modernization of these plants can improve their efficiency by about 10 to 15%,” said Mikul Bhatia, World Bank Energy Specialist and project team leader.
[World Bank Press Release]