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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding for such plants since it began operations in 2016, Jin Liqun, president of the bank, said on Wednesday.
The bank has never funded any coal-fired projects, despite provisions for such financing, Jin said at the virtual 2021 Aspen Security Forum.
He was referring to AIIB’s 2017 Energy Sector Strategy, in which it pledged to “reduce the carbon intensity of energy supply” with “a sizable reduction in coal investments”. However, the strategy stated that the bank will consider financing coal-fired power plants if they replace existing ones with less efficient capacity or if no alternative exists.
“So next year, we may review or upgrade the energy strategy. My view is in the … updated strategy, coal definitely would be out,” he said, adding that the bank has been “more prudent” than what is stipulated in the energy strategy.
The bank is focused on developing Asia but has members from all over the world. It has a stated mission of building a green “Infrastructure for Tomorrow”, with sustainability, innovation and connectivity at its core.
Jin has led the Beijing-headquartered bank since it was founded in 2015 and started his second five-year term as president on Jan 16.
An earlier comment of Jin’s that the bank will not finance any coal project or other project “functionally related to coal” drew widespread attention as Asia’s coal reserves represent 38 percent of world’s total.
At the forum, Jin gave an example of AIIB turning down a power transmission project of a developing country that involved a coal-fired power plant, even though that plant was built with clean technology.
“We still turned it down, because the transmission line was to be linked to a coal-fired power plant,” he said.
Jin said the bank is committed to having 50 percent of financing directed to climate investments by 2025, up from about 40 percent now. The financing will go to clean technology, energy efficiency and other areas that help cut carbon emissions.
“Infrastructure investment in today’s world should be done in a way very much different from what it used to be; we have to do it in an environmentally benign way. … So we focus very much on renewables,” he said.
‘Integrated approach’
AIIB has opted to take an “integrated approach” to climate mitigation and adaptation, investing in areas like mass-transit systems to reduce the number of vehicles on the road, he added.
Since the outbreak of the COVID-19 pandemic, AIIB has focused on lending and budget support to countries asking for help. “In 2020, we invested $7 billion in dealing with COVID-19 to help these countries get back on their feet as soon as possible and get regular infrastructure projects moving forward,” he said.
Jin said the pandemic has accentuated the importance of social infrastructure. AIIB will still allocate a “suitable” proportion of resources to build up the healthcare systems of member countries.
The bank has approved at least $22 billion in loans for 108 projects over the past five years, during which its number of members expanded from 57 to 103, according to the AIIB’s 2020 annual report.
Source: China Daily
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Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- GMR Energy Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
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