By Laura Barron-Lopez - 07/07/14 08:48 AM EDT
The U.S. Export-Import Bank is weighing funding for a massive coal-fired power plant in India, going against the administration policy to scale back financing of coal plants overseas.
The Ex-Im Bank board voted in December to adopt new guidelines restricting funding of plants except in the poorest countries. The guidelines are in line with President Obama's policy, which is a part of his climate agenda, Reuters reports.
In January the Ex-Im Bank temporarily suspended enforcement of the ban on financing carbon-intensive projects abroad until September.
The suspension came after a measure of the House appropriations bill sought to derail the administration climate plan, which created an avenue for the India plant to apply for a loan guarantee.
The coal plant is a 4,000 megawatt power plant connected to coal mines in Jharkhand, India. It would add 100,000 megawatts of electric generation by 2017, but a number of residents surrounding the mines and power plant are protesting it.