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Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
 Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in certain provinces, Fitch Ratings says. The extent of the impact of this new policy announced by China's National Development and Reform Commission on 27 May 2016 will depend on execution at the provincial level.
According to Fitch, the new policy comes as solar and wind power producers frequently face curtailment, where power grids do not purchase all the energy generated. The wastage arises as the government has not strictly enforced the Renewable Energy Law, which requires grid companies to purchase solar and wind power generated first before buying from other sources. In the past, delayed grid connectivity and higher on-grid priority for power/heating co-generation during the winter season in certain regions contributed to solar and wind power curtailment. Starting from 2015, renewable energy faced additional challenges from slower power demand growth due to the weaker economic growth, and the significant capacity additions by thermal and renewable power producers.
Fitch further noted that, the under the new policy, the NDRC will guarantee that grid companies purchase solar and wind power, based on a minimum utilisation hour for such projects, in 11 provinces where producers face severe curtailment. The 11 provinces are: Inner Mongolia, Xinjiang, Gansu, Jilin, Heilongjiang, Ningxia, Liaoning, Qinghai, parts of Hebei, Shanxi and Shaanxi. The curtailment ratios in these provinces were higher than China's average solar and wind power curtailment ratios of 14% and 26%, respectively, in 1Q16. These provinces represented 69% of China's total wind power generation and 70% of total solar capacity in 2015.
The NDRC's guarantee of a minimum utilisation hour for solar and wind power, which is set to allow these generators a reasonable return, will provide some comfort to renewable energy investors in these provinces, who have seen the utilisation hours for wind and solar power in these provinces decline in the past two years. The NDRC will guarantee minimum utilisation hour of between 1,800 and 2,000 hours for wind power and between 1,300 and 1,500 hours for solar power in these regions. The average minimum guarantee is about 17% higher than the actual utilisation in 2015, although around 8% lower than that in 2013.
The new NDRC policy also bans new wind and solar power projects in the regions where the utilisation rate is below the minimum amount under the guaranteed purchase policy. There are still 33GW of wind power projects in the pipeline in these 11 provinces, and those that have not started construction may be suspended.
We believe the effectiveness of the guarantee in provinces such as Gansu, Jilin and Heilongjiang will be most dependent on the execution; especially because the policy has not specified who will bear the cost of any non-compliance with the minimum purchase guarantee. These regions' actual utilisation hours in 2015 were 19%-34% below the announced guarantee. The expected growth in power demand in these regions is also weak and export transmission capacity is currently limited. Thermal power (mostly co-gen units) is also running at low utilisation, which means there is limited room to allocate more on-grid capacity to renewable energy without further hurting the thermal power producers.
The NDRC's guarantee does not affect the on-grid tariff subsidies currently in place for solar and wind power. Beyond the minimum purchase guaranteed by NDRC, solar and wind power generators can sell any excess power generated through a market power sales programme. The generators will receive the proceeds from the power sales and any applicable subsidies for solar or wind power, Fitch Ratings says.
The impact of the new policy on the thermal-power sector will be minimal, as wind and solar together account for only 4% of national power generation. We estimate that thermal-power utilisation would only have been less than 1% lower if the off-take from solar and wind projects were at the guaranteed requirement in 2015. However, we expect utilisation levels for coal-fired generation to continue to fall due to the increasing over-capacity in the sector, Fitch Ratings Concluded.
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Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
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