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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- The University of Queensland
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
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