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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, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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