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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 $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Thai Mozambique Logistica
- White Energy Company Limited
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- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
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- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
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- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
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- CNBM International Corporation - China
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- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
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- Directorate General of MIneral and Coal - Indonesia
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- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Independent Power Producers Association of India
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- Bhoruka Overseas - Indonesia
- Planning Commission, India
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- The State Trading Corporation of India Ltd
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- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
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- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Parliament of New Zealand
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- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
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- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
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- San Jose City I Power Corp, Philippines
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- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
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- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
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- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
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- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
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- Indonesian Coal Mining Association
- The Treasury - Australian Government
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