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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- TNB Fuel Sdn Bhd - Malaysia
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- Parliament of New Zealand
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- Energy Development Corp, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
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- Mercuria Energy - Indonesia
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- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
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- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Renaissance Capital - South Africa
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- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
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- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
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- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
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- Attock Cement Pakistan Limited
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- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
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- South Luzon Thermal Energy Corporation
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- Baramulti Group, Indonesia
- Eastern Coal Council - USA
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- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
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- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
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- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
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- The State Trading Corporation of India Ltd
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- Chamber of Mines of South Africa
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- Petron Corporation, Philippines
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- Vedanta Resources Plc - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
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- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
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- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
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- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
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- Mjunction Services Limited - India
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- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
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- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
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