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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Planning Commission, India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- The University of Queensland
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
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