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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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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Anglo American - United Kingdom
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
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- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
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