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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, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
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