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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
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