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Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
 China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 – rather than capacity installations, should add flexibility in adding installations and alleviate curtailment risk, says Fitch Ratings.
China targets for renewables to supply 33% to national power consumption by 2025, and for non-hydro renewables to contribute 18%; the two consumption quota targets are 4.3pp and 3.6pp higher than 2021 levels, respectively. Correspondingly, China expects to increase annual renewable generation to 3,300 terawatt hours by 2025, implying a CAGR of 7%-8% in the next four years.
The 14th five-year plan does not specify a target for renewable power capacity, unlike previous plans. This should allow for more flexibility on annual capacity additions in 2022-2025, which can instead be driven by power demand growth and the power system’s ability to consume the newly added installations.
Such flexibility in capacity installations should also alleviate curtailment risk from oversupply, supported by the fast development of storage systems, combined with the well-planned locations of new projects, including at large renewable bases that will contribute the majority of new installations under the plan. Most renewable bases will be located at load centres, such as Hebei and Shandong, or in desert and deserted areas, including those in Inner Mongolia and Gansu, where land is cheaper, renewable resources are abundant and UHV lines – which transmit power intra-provincially to specific load centres – are established or will become available.
New projects with grid offtakes can sell pre-agreed volume at fixed prices, but the amount of renewable power generated in excess of the offtake volume and projects without grid offtakes will be traded in the market. The 14th five-year plan encourages renewable generation companies and end-users to enter long-term contracts. Trading premiums are likely to occur in coastal regions, where renewable resources are limited, but demand for green energy is increasingly robust, while renewable power produced in provinces with excess supply may be traded at a discount.
Fitch Ratings, China also expects stronger enforceability of the 14th five year plan, which was released by the National Development and Reform Commission (NDRC), China’s central regulator, jointly with eight central-government bodies, including the Ministry of Finance, Ministry of Natural Resources, Ministry of Housing and Rural-Urban Development and Ministry of Ecology and Environment, which are responsible for approving and facilitating the development of renewable projects or monitoring the consumption levels. Previous plans were normally introduced by NDRC alone.
Fitch further expects China to maintain strong renewable installation growth, despite the lack of capacity targets specified for end-2025. We estimate that China is likely to boost annual wind and solar power capacity by 100-110 gigawatts (GW) on average, assuming national power demand grows at a CAGR of 4.7% in the next four years. Our estimated capacity additions are comparable with the 103GW installed in 2021, but below the 2020 peak of 120GW. However, provincial and corporate level end-2025 targets, if added, suggest faster capacity additions. We thus expect capex and leverage at most state-owned power generation companies to stay high over the medium term.
For the first time, the five-year plan sets goals on the usage of non-power renewable energy, such as heating by solar, geothermal and biomass. This may encourage favourable policies on integrated energy and support the earnings of city-gas operators and national oil companies, which are becoming active in developing non-carbon energy businesses.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
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