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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
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- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- White Energy Company Limited
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
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