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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to convert 13 large coal power projects into clean liquefied natural gas (LNG) based plants.
In a letter sent to the Prime Minister’s Office earlier this month, the Power Division said these 13 coal-based projects either made little progress or could not secure financing, a well-placed source said. Besides, coal power has become costlier in recent years than clean power.
These ongoing projects have a total capacity of 13,000 megawatts – which is more than the country’s current power consumption. As such, the ministry suggested keeping only the projects that are already under construction, and five ongoing coal power projects having 5,371MW of capacity fit the criteria.
The 13 other projects in question have acquired land, and they could be renegotiated into LNG based power projects, Power Division officials told The Business Standard.
State Minister for Energy and Power Nasrul Hamid, who announced the policy direction to shift from coal, recently revealed that financing issues and slow progress are the main reasons behind the re-thinking on the projects. “As most of the sponsored companies failed to get financing, we have decided to rethink the projects. However, further discussion will be taken with the directive of the prime minister,” he had said.
While coal power is difficult to finance, LNG attracts financiers easily now-a-days because of its declining price and clean reputation. Currently, the government is importing 1000 mmcf (million cubic feet) LNG per day through two floating storage units. However, it plans to increase the import capacity to 2,000 mmcf gas per day by 2030.
Meanwhile, a total of five LNG-based projects with a capacity of 8,750 megawatts of electricity are in the pipeline. Payra 3,600 megawatts and Moheskhali 3,600MW combined cycle power projects are the two of these plants which will be implemented by Siemens and General Electric (GE) respectively. Summit Power also joined hands with GE to set up another big LNG based power plant in Meghnaghat.
Source: The Business Standard
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Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- Miang Besar Coal Terminal - Indonesia
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- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
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- Singapore Mercantile Exchange
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- The University of Queensland
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- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
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- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
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- VISA Power Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
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- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Mjunction Services Limited - India
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- Chamber of Mines of South Africa
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- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
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- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
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- Banpu Public Company Limited - Thailand
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- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Economic Council, Georgia
- Wilmar Investment Holdings
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- Power Finance Corporation Ltd., India
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- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
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- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
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- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
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