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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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Showing 56 to 60 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
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