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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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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- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
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