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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- CNBM International Corporation - China
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- Toyota Tsusho Corporation, Japan
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- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Singapore Mercantile Exchange
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- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
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- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
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- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Australian Coal Association
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- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
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- The Treasury - Australian Government
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- Australian Commodity Traders Exchange
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- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Planning Commission, India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
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