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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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