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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, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Antam Resourcindo - Indonesia
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- Vizag Seaport Private Limited - India
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- New Zealand Coal & Carbon
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- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
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- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- Kobexindo Tractors - Indoneisa
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- Coal and Oil Company - UAE
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- Eastern Energy - Thailand
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- Ministry of Finance - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
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- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
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