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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
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