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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
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- Marubeni Corporation - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
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- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
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