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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- The University of Queensland
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
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