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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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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- The University of Queensland
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- VISA Power Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
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