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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Independent Power Producers Association of India
- Australian Coal Association
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
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