AUSTRALIA'S four major banks have rejected funding a...

AUSTRALIA'S four major banks have rejected funding a coal-fuelled power plant proposed for Victoria, raising doubts about its viability despite its controversial approval by the Environment Protection Authority.

The EPA has cleared the way for Melbourne coal technology company HRL to build what would be Victoria's first new coal plant in nearly 20 years.

Under yesterday's ruling, HRL can build a plant at Morwell using new gasification technology, which is claimed to reduce greenhouse gas emissions from brown coal power by about a third, to roughly the level of modern black coal stations.



Read more: http://www.theage.com.au/national/big-banks-no-to-coal-plant-20110520-1ewxj.html#ixzz1N4yFRlij