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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
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