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Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
 COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Central Java. BPI is owned by a consortium of Electric Power Development Co., Ltd. (J-Power) – PT Adaro Power (AP) – Itochu Corporation (Itochu).
President Director of PT Adaro Energy Tbk (AE), Mr Garibaldi Thohir, remarked “We are pleased to achieve this significant milestone. Despite the delay, we are thankful for the support from PLN, all sponsors, lenders, government institutions and other stakeholders. We expect that the process will move forward as planned, and we are excited as we are now closer to our vision to be a leading Indonesian mining and energy group and establishing one of our engines of growth.”
According to PT Adaro Energy Tbk's disclosure to the Indonesia Stock Exchange and the OJK, total investment for this project cost is around US$ 4.2 billion, and BPI will receive project funding of approximately US$3.4 billion from the Japan Bank for International Cooperation (JBIC) and a syndication of nine commercial banks: SMBC, BTMU, Mizuho, DBS, OCBC, Sumitomo Trust, Mitsubishi Trust, Shinsei and Norinchukin.
According to PT Adaro Energy, this project will sell electricity to PT Perusahaan Listrik Negara (Persero) (PLN) under a power purchase agreement (PPA) for 25 years from the completion of construction, the PPA between BPI and PLN was signed on October 6th, 2011.
The Government of Indonesia through the Ministry of Finance, the Indonesia Infrastructure Guarantee Fund (IIGF) and BPI have signed an agreement to guarantee the payment from PLN to BPI as stipulated in the PPA. IIGF is an institution established by the Government of Indonesia to provide guarantee for government institutions participating in public private partnership (PPP). This project is Indonesia’s first PPP project to receive IIGF’s guarantee.
President Director of BPI, Mr Mohammad Effendi, said “After the financial close, construction of the power plant should immediately begin. Construction is estimated to take approximately four year and COD is expected in 2020.”
This power plant will be one of the largest IPP in Asia and is the first coal-fired power plant project to use the environmentally friendly ultra-supercritical (USC) technology in Indonesia. The USC uses steam temperatures and pressures above the supercritical point of water which allows lower fuel consumption per kilowatt hour (KwH) and reduce specific CO2 emissions.
The disclosure further noted that, this project has been delayed for several years due to difficulties related to land acquisition. Early this year, through the implementation of Law No.2/2012 regarding Land Procurement for Development in the Public Interest, BPI and PLN had been able to secure all the required land and this has made BPI the first Independent Power Producer (IPP) to have successfully implemented Law No.2/2012.
Despite the delay, all partners remain committed to the project and all the stakeholders involved including the government of Indonesia, PLN and the creditors remain committed to the project from the beginning. The Engineering, Procurement and Construction (EPC) contractors selected for this project are Mitsubishi Hitachi Power Systems, Ltd for the offshore portion and Sumitomo Corporation for the onshore portion.
Operation & Maintenance of the power plant will be conducted by BPI. From the beginning of construction and throughout its operation, BPI will contribute significantly to the social and economic development of Indonesia, particularly the Batang Regency and Central Java region, through job creation and numerous social development programs to create shared value between BPI and the community. One example, in order to overcome the impact of land acquisition, BPI has given social compensation to affected farmers and prepared replacement land to solve the changes in livelihood method. BPI has also carried out several community development programs and will continue to improve its programs for the development of a self sustaining society.
 About PT Bhimasena Power Indonesia
PT Bhimasena Power Indonesia (BPI) is a consortium of Electric Power Development Co., Ltd. (J-Power) (34%), PT Adaro Power (34%) and Itochu Corporation (Itochu) (32%). PT Adaro Power is a wholly-owned subsidiary of PT Adaro Energy Tbk.
The 2x1,000 MW power plant is located in Batang Regency, Central Java. It is the first infrastructure project under the public private partnership (PPP) structure and will apply the Build, Own, Operate, Transfer (BOOT) scheme. This project is part of the Master Plan for Acceleration and Expansion of Indonesia Economic Development and will lead economic development in Java. The 2x1000 MW power plant is also part of the 35,000MW program inaugurated by President Joko Widodo, a national strategic plan to meet Indonesia’s growing electricity demand. This project will use the more efficient and environmentally-friendly Ultra-Super Critical technology.
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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
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