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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
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