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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
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