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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, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Australian Coal Association
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
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