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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, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
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