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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Eastern Coal Council - USA
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- Ministry of Mines - Canada
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- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Economic Council, Georgia
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- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
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- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
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- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
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- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
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- Formosa Plastics Group - Taiwan
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- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
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- Chamber of Mines of South Africa
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- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
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- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
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- Banpu Public Company Limited - Thailand
- White Energy Company Limited
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- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
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- Bhatia International Limited - India
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- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
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- Romanian Commodities Exchange
- Heidelberg Cement - Germany
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- Central Java Power - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
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- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
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- Electricity Authority, New Zealand
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- Bharathi Cement Corporation - India
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- McConnell Dowell - Australia
- Ministry of Transport, Egypt
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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- Singapore Mercantile Exchange
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- The State Trading Corporation of India Ltd
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