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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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
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- Electricity Authority, New Zealand
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- Trasteel International SA, Italy
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- New Zealand Coal & Carbon
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- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
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- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
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- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
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- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
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- Kumho Petrochemical, South Korea
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- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
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- Timah Investasi Mineral - Indoneisa
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- Eastern Coal Council - USA
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- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
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- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
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- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
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- The University of Queensland
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- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
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- Sakthi Sugars Limited - India
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- Planning Commission, India
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- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
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- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
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- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
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