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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
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