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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
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