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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- The University of Queensland
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
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