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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
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