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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
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- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
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- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
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- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
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