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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, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
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- Altura Mining Limited, Indonesia
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- Indian Oil Corporation Limited
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- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- PTC India Limited - India
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- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
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- Rashtriya Ispat Nigam Limited - India
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- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
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- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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- Miang Besar Coal Terminal - Indonesia
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- Minerals Council of Australia
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- LBH Netherlands Bv - Netherlands
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- Electricity Authority, New Zealand
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- Port Waratah Coal Services - Australia
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- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
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- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
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- Sindya Power Generating Company Private Ltd
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- Posco Energy - South Korea
- Parry Sugars Refinery, India
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- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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- International Coal Ventures Pvt Ltd - India
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- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
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- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
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- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
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- Mjunction Services Limited - India
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- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
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