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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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Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
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- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
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