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Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
 Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity at the rate it’s achieved for the last three months, coal-fired power could peak in the 2023-24 financial year, and increased solar generation alone could meet the country’s growing electricity requirements in subsequent years.
India’s electricity demand has surged and slumped in recent months as the economy revives in fits and starts, but the fact is that coal-fired power is increasingly sensitive to the performance of renewable energy.
Coal has effectively become India’s swing producer of electricity, rising to new peaks in periods when demand is high and renewable power low, but slumping deeply when demand falls and renewable energy’s contribution rises.
In recent months thermal generation has swung between a daily low of just over 2.0 terawatt hours (TWh) on August 1 (when renewable energy and hydroelectricity provided 38% of India’s electricity), to as high as 3.2 TWh just over two weeks later when renewable energy and hydro made a smaller though still impressive 25% contribution to the grid.
But while the variable nature of renewable energy is well known and the financial fortunes of coal-fired power are increasingly tied to its generation level, it is a recent change in a different number that may prove decisive in determining how soon coal’s contribution to India’s electricity reaches its peak. That number is the rate at which the country is installing new solar capacity.
Calendar year 2020’s pandemic conditions saw new solar installations fall to an average of just 411 megawatts (MW) per month, compared to 665MW per month as the average since January 2017. But since May this year there has been a very strong rebound. A total of 1,248MW of solar capacity was added in June, followed by an additional 1,605MW in July, rising again to 1,672MW in August.
This average of 1,508MW per month for the last quarter does more than simply double the long-term installation rate – it shows just how close India could be to capping thermal generation. If this installation rate continued, solar capacity would reach 109 gigawatts (GW) by March 2024, generating some 87 TWh of additional power annually, enough to meet all of India’s electricity generation increase, based on the latter’s 5.7% annual growth rate over the decade to 2019.
Some other adjustments would be needed if coal-fired power were to peak and subsequently decline. Daily peak demand has been rising faster than daily energy, meaning that thermal plants would increasingly have to be deployed to meet the daily peak, as would hydroelectric generators, without increasing their overall output. Additional pumped storage and India’s first set of grid-scale batteries would also support the peak, along with the development of a time-of-day pricing structure to incentivise demand response management by industry and consumers.
Whether the actual installation rate matches, falls short of, or exceeds this rate will come down to the determination of the Indian government. The current rate would comfortably meet the 60GW ground-mounted component of the 2022 125GW renewable target, but not quite match the average rate needed to hit the 280GW solar component of the 450GW 2030 goal.
What the last few months clearly demonstrate, however, is India’s ability to now accelerate the installation of grid-scale solar fast enough to cap coal-fired power before the middle of the decade and potentially to see a gradual coal generation decline from that point on.
The recent lift in rooftop solar installs, along with increased development of wind and rounding out those nearly completed hydro power projects to which India is committed could make our timeline here conservative indeed!
By Tim Buckley, Director Energy Finance Studies South Asia at IEEFA
and Dr Charles Worringham, researcher and contributor at IEEFA
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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
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