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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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Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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