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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
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