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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- The University of Queensland
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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