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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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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- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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