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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Posco Energy - South Korea
- VISA Power Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
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