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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, 18 October 16
COAL PRICES KEPT CLIMBING
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, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
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- McConnell Dowell - Australia
- Anglo American - United Kingdom
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- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
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- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Electricity Authority, New Zealand
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- Minerals Council of Australia
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- Australian Coal Association
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- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
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- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
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- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
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- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
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- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
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- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
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- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
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- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
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