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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- PTC India Limited - India
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