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Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
 COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Central Java. BPI is owned by a consortium of Electric Power Development Co., Ltd. (J-Power) – PT Adaro Power (AP) – Itochu Corporation (Itochu).
President Director of PT Adaro Energy Tbk (AE), Mr Garibaldi Thohir, remarked “We are pleased to achieve this significant milestone. Despite the delay, we are thankful for the support from PLN, all sponsors, lenders, government institutions and other stakeholders. We expect that the process will move forward as planned, and we are excited as we are now closer to our vision to be a leading Indonesian mining and energy group and establishing one of our engines of growth.”
According to PT Adaro Energy Tbk's disclosure to the Indonesia Stock Exchange and the OJK, total investment for this project cost is around US$ 4.2 billion, and BPI will receive project funding of approximately US$3.4 billion from the Japan Bank for International Cooperation (JBIC) and a syndication of nine commercial banks: SMBC, BTMU, Mizuho, DBS, OCBC, Sumitomo Trust, Mitsubishi Trust, Shinsei and Norinchukin.
According to PT Adaro Energy, this project will sell electricity to PT Perusahaan Listrik Negara (Persero) (PLN) under a power purchase agreement (PPA) for 25 years from the completion of construction, the PPA between BPI and PLN was signed on October 6th, 2011.
The Government of Indonesia through the Ministry of Finance, the Indonesia Infrastructure Guarantee Fund (IIGF) and BPI have signed an agreement to guarantee the payment from PLN to BPI as stipulated in the PPA. IIGF is an institution established by the Government of Indonesia to provide guarantee for government institutions participating in public private partnership (PPP). This project is Indonesia’s first PPP project to receive IIGF’s guarantee.
President Director of BPI, Mr Mohammad Effendi, said “After the financial close, construction of the power plant should immediately begin. Construction is estimated to take approximately four year and COD is expected in 2020.”
This power plant will be one of the largest IPP in Asia and is the first coal-fired power plant project to use the environmentally friendly ultra-supercritical (USC) technology in Indonesia. The USC uses steam temperatures and pressures above the supercritical point of water which allows lower fuel consumption per kilowatt hour (KwH) and reduce specific CO2 emissions.
The disclosure further noted that, this project has been delayed for several years due to difficulties related to land acquisition. Early this year, through the implementation of Law No.2/2012 regarding Land Procurement for Development in the Public Interest, BPI and PLN had been able to secure all the required land and this has made BPI the first Independent Power Producer (IPP) to have successfully implemented Law No.2/2012.
Despite the delay, all partners remain committed to the project and all the stakeholders involved including the government of Indonesia, PLN and the creditors remain committed to the project from the beginning. The Engineering, Procurement and Construction (EPC) contractors selected for this project are Mitsubishi Hitachi Power Systems, Ltd for the offshore portion and Sumitomo Corporation for the onshore portion.
Operation & Maintenance of the power plant will be conducted by BPI. From the beginning of construction and throughout its operation, BPI will contribute significantly to the social and economic development of Indonesia, particularly the Batang Regency and Central Java region, through job creation and numerous social development programs to create shared value between BPI and the community. One example, in order to overcome the impact of land acquisition, BPI has given social compensation to affected farmers and prepared replacement land to solve the changes in livelihood method. BPI has also carried out several community development programs and will continue to improve its programs for the development of a self sustaining society.
 About PT Bhimasena Power Indonesia
PT Bhimasena Power Indonesia (BPI) is a consortium of Electric Power Development Co., Ltd. (J-Power) (34%), PT Adaro Power (34%) and Itochu Corporation (Itochu) (32%). PT Adaro Power is a wholly-owned subsidiary of PT Adaro Energy Tbk.
The 2x1,000 MW power plant is located in Batang Regency, Central Java. It is the first infrastructure project under the public private partnership (PPP) structure and will apply the Build, Own, Operate, Transfer (BOOT) scheme. This project is part of the Master Plan for Acceleration and Expansion of Indonesia Economic Development and will lead economic development in Java. The 2x1000 MW power plant is also part of the 35,000MW program inaugurated by President Joko Widodo, a national strategic plan to meet Indonesia’s growing electricity demand. This project will use the more efficient and environmentally-friendly Ultra-Super Critical technology.
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Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
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- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
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- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
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- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
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- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Petron Corporation, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
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- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
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- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
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- Standard Chartered Bank - UAE
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- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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- GN Power Mariveles Coal Plant, Philippines
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- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Planning Commission, India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- White Energy Company Limited
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