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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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Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
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