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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, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
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- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
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