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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
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Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
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