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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, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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- Electricity Authority, New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- The Treasury - Australian Government
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- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
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- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
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- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
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- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
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- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
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- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
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- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
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- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
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- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
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- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
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- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
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- Rashtriya Ispat Nigam Limited - India
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- Minerals Council of Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
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