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Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
.jpg) Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest private power utility, has announced that it would not bid for imported coal-based Ultra Mega Power Projects (UMPPs) in future, until the overall policy environment becomes favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 and 12,000 Mw by 2014 from the current 2,700 Mw.
“There are two conditions we have (for bidding in UMPPs). One, it should not be imported coal-based. Second is that the financial market should be such that it attracts foreign currency loans,” Tata Power Executive Director S Ramakrishnan said. The company’s decision stems from the volatility in international coal prices, which could further pressurise domestic power prices in future.
“We are already exposed to about 20 million tonnes of imported coal. Any more is not advisable from our portfolio point of view because international coal prices can go high, in which case the power you produce becomes very expensive. We are very keen to look at domestic (coal-based) UMPPs. If it is based on imported coal, we will not bid,” Ramakrishnan said.
He also added the company would remain “averse” to taking decisions in the matter until the government’s policy on making imported coal affordable and the policy on foreign currency exposure becomes clear.
“There are some discussions in terms of a pool price of coal, wherein imported coal and Indian coal could be mixed into one pool, so that it (imported coal) becomes affordable. Also, foreign currency loans for Indian projects have almost evaporated. We believe that the Indian financial system will get overloaded with exposure to the power industry. Until this issue is solved, there will be an issue of funding. So, let these policies get cleared before we review this,” he said.
Tata Power, which is implementing the imported coal-based Mundra UMPP, had bid for the Sasan pithead UMPP but the project went to Reliance Power after the latter matched Lanco’s bid at a tariff of Rs 1.19 a unit. Tata Power is currently locked in a legal battle over the government decision allowing Reliance Power to use coal linked to Sasan for other power projects.
Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity by over 50,000 Mw by 2017 in order to minimise the gap between electricity demand and supply in the country.
The government has so far bid out four of such UMPPs, one of which was in Mundra in Gujarat and was bagged by Tata Power in 2007. The other three UMPPs — Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand — are being developed by Reliance Power.
THE STORY SO FAR
* Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity
* The government has so far allotted four UMPPs, one of which is in Mundra in Gujarat and was bagged by Tata Power in 2007
* Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ending March 2012
* The project would be funded on a 75 per cent debt and 25 per cent equity basis
Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ended March 2012. The company has already claimed that the project has progressed 30 per cent and it plans to commission the first unit in September 2011.
The project would be funded on a 75 per cent debt and 25 per cent equity basis. Foreign exchange loans, to the extent of $1.8 billion, are being provided by Korean Exim, Korean Insurance, International Finance Corporation (IFC) and Asian Development Bank (ADB). Another $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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- Altura Mining Limited, Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
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- Lanco Infratech Ltd - India
- Planning Commission, India
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- Indonesian Coal Mining Association
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- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
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- Thai Mozambique Logistica
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- New Zealand Coal & Carbon
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- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
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- Energy Development Corp, Philippines
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- Minerals Council of Australia
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- The University of Queensland
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- Indian Energy Exchange, India
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- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Posco Energy - South Korea
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- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
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- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
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- Videocon Industries ltd - India
- Parliament of New Zealand
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- Singapore Mercantile Exchange
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- SN Aboitiz Power Inc, Philippines
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- White Energy Company Limited
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- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
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- Orica Australia Pty. Ltd.
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- Energy Link Ltd, New Zealand
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- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
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- Oldendorff Carriers - Singapore
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- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
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- Power Finance Corporation Ltd., India
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- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
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- Jorong Barutama Greston.PT - Indonesia
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- Mintek Dendrill Indonesia
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- Semirara Mining Corp, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
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