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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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