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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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Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- Wood Mackenzie - Singapore
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- Goldman Sachs - Singapore
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- Global Coal Blending Company Limited - Australia
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- The University of Queensland
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- Africa Commodities Group - South Africa
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- Trasteel International SA, Italy
- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
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- Agrawal Coal Company - India
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- New Zealand Coal & Carbon
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- Ministry of Transport, Egypt
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- Coalindo Energy - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
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- MS Steel International - UAE
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- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
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- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
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- VISA Power Limited - India
- Minerals Council of Australia
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- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
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- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
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- Kideco Jaya Agung - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
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- Wilmar Investment Holdings
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- Cement Manufacturers Association - India
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- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
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- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
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- Indian Oil Corporation Limited
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- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
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