India revealed that it’s five mega
coal power plant plan will be financed
by the Life Insurance Corporation
through Special Purpose Vehicles
created by the Power Finance
Corporation. Unidentified senior
official said that the LIC agreed to
step in when the risks of financing by
State Electricity Boards (SEBs) was
ruled out because of their poor
financial state. Two of these power
plants will be placed near coalmines
and other three near the coast and
will use imported coal.
