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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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Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
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