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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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- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
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