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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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Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
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