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Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
 India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise in electricity demand and an increase in short-term prices.
According to a post published on Ind-Ra's website, the stable-to-negative outlook continues to reflect Ind-Ra’s expectation of a continued low plant load factor of 60.0%-62.0% of coal-based thermal power plants over the rest of FY19, because of large capacity additions in the past five years and domestic coal availability challenges. Ind-Ra expects India’s dependence on thermal power generation to remain high in the absence of any substantial improvement in power generation from other sources.
The agency has maintained a Stable Outlook on most of its rated power sector entities for the rest of FY19, as the agency expects the entities to continue to manage fuel and counterparty risks on account of a favourable tariff mechanism, a comfortable liquidity position and support from central and state governments.
Ind-Ra expects the dependence on coal-based power generation to continue despite a likely increase in capacity addition in the renewable segment, as capacity addition is low on an equivalent thermal basis owing to the low plant load factor in the renewable segment.
Given Ind-Ra’s expectation of healthy power demand growth in the rest of FY19 and thermal power capacity contributing to the required growth, coal availability becomes a key determinant for required power demand growth. Considering the historical growth rate of domestic non-coking coal production and offtake, Ind-Ra estimates imported coal requirement to increase to 62.0 million tonnes in FY19 from 56.0 million tonnes in FY18 to meet incremental power generation. Hence, there could be higher imported coal usage in FY19 than that in FY16-FY18, when imported coal usage declined. According to Ind-Ra, in a scenario of lower-than-required growth in domestic coal output, short-term power prices would remain firm and are likely to be determined by the marginal cost of energy production undertaken using imported coal.
Ind-Ra estimates project internal rate of returns to decline to a single-digit level in view of the recent aggressive bidding for wind power projects. Ind-Ra believes a high un-hedged forex exposure from the depreciating Indian rupee further lowers projects’ internal rate of returns. Moreover, access to the banking system may tighten, in case bidding continues to remain aggressive.
Solicitation Disclosures
Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer. Please also refer Ind-Ra’s Disclaimer
If you believe an article violates your rights or the rights of others, please contact us.
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Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
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