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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, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
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