, Columnist
India’s Power Mess Is Enron Times 20
Banks are on the hook for $26 billion in loans to stressed electricity projects.
The U.S. energy company's failed Maharashtra plant is a picnic beside India’s latest power debacle.
Photographer: Raveendran/AFP/Getty Images
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Enron Corp. is long gone, but the scandal it left behind in India has beguiled the country’s lenders for almost two decades.
However, if the bankers who financed the U.S. energy company’s unviable power plant in Maharashtra state aren’t ruing that 2,000-megawatt debacle any more, it’s only because they’re now staring at a mess 20 times bigger.