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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
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