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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
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