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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Larsen & Toubro Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
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