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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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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Mercuria Energy - Indonesia
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- Altura Mining Limited, Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
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- Coastal Gujarat Power Limited - India
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- Australian Coal Association
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- Salva Resources Pvt Ltd - India
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- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
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- TeaM Sual Corporation - Philippines
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- Formosa Plastics Group - Taiwan
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- PNOC Exploration Corporation - Philippines
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- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Planning Commission, India
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- Star Paper Mills Limited - India
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- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
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- LBH Netherlands Bv - Netherlands
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- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
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- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
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- Intertek Mineral Services - Indonesia
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- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
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- Georgia Ports Authority, United States
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- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
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- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
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- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
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