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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, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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- Vedanta Resources Plc - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Anglo American - United Kingdom
- The University of Queensland
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
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