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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, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
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