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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
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